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The amount of a loan that is borrowed is known as the what
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Asked 6/17/2012 12:44:32 PM
Updated 6/17/2012 1:02:49 PM
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User: The amount of a loan that is borrowed is known as the what

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Asked 6/17/2012 12:44:32 PM
Updated 6/17/2012 1:02:49 PM
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Flagged by debnjerry
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The amount of a loan that is borrowed is known as the principal.
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Added 6/17/2012 1:02:49 PM
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Confirmed by yumdrea [12/28/2015 10:21:41 AM]
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anet Home went to Citizen Bank. She borrowed $7,000 at a rate of 8 percent. The date of the loan was September 20. Janet hoped to repay the loan on January 20. Assuming the loan is based on ordinary interest, Janet will pay back interest on January 20
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is principal is equal to rate divided by interest times time
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