Question

Define principal amount with suitable examples​

Answer 1

Step-by-step explanation:

Principal is the money that you originally agreed to pay back. Interest is the cost of borrowing the principal. ... If you plan to pay more than your monthly payment amount, you can request that the lender or servicer apply the additional amount immediately to the loan principal.

An example of principal is the person in charge at a school or the head of a research project. An example of principal is the amount of money loaned to a business

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