When you receive a loan, the money the lender gives you is called the principal. This is the initial amount of money borrowed, which is expected to be repaid along with interest over a specified period according to the terms of the loan agreement
When you receive a loan, the money the lender gives you is called the principal. This is the initial amount of money borrowed, which is expected to be repaid along with interest over a specified period according to the terms of the loan agreement