Math, asked by rushikeshumali, 1 month ago

Principal & Interest

Answers

Answered by avrilpinto

1

Answer:

Your monthly mortgage payment has two parts: principal and interest. Your principal is the amount that you borrow from a lender. The interest is extra money that goes to your lender in exchange for giving you a loan. Most lenders calculate interest in terms of annual percentage rate (APR) that you pay per year

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