jynxx25
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The principle is the amount being loan. For example, if I loan you $100 at 10% annual interest, the principle will be the $100. To calculate how much of your payment is going to the loan, subtract the interest from the payment amount. If you do not see the interest charged ask why because I seen some loan companies not disclosing that information on monthly statements. |
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bijan816
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it means the whole amounth you have to give to the bank.
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http://www.bestcreditrates.net |
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QueenChristine
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The principle is the original amount you would have borrowed. Out of any term loan your payment consists of some going towards the interest and some going towards the principle. |
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Debbie P2
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You're just confusing principle with principal (lots of people make that mistake and I get this joke alot: "Bankers just don't have any principles anymore"). When dealing with loans, you want to look up principal which means the amount owed to the bank, net of any interest or fees. Say you get a car loan: the dollar amount of money you borrowed is the principal.....then interest and fees are added, which make up your payment. |
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joe m
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Principal is the amount of money you borrow. It does not include interest and other charges.
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Shlee
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Principal is the amount that you borrow. Often you will hear that people pay the Principal and Interest off the loan, which means that they are paying the interest off and also the amount that they borrowed. |
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john n
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The principle is the amount of the loan. In financial terms a loan is a debt that has two components;the principle being the basic amount owed before interest. |
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red_rose_rancher
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Principle refers to the original amount borrowed- not the amount that you pay in interest on that original amount. say you borrow $100. and pay 6% interest your payment would be say, $10.60 per month- $10. would go towards your principle- and .60 cents towards interest. after one payment you would only owe $90. on the principle of the loan amount($100). the interest amount would obviously be the .60 cents. each month the principle amount owed would go down accordingly, as you would only pay interest the next month on the $90. this process is called amortization. hope this helps. |
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sniper
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It's the amount that you borrowed minus the interest. |
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Bobbie
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There is the "priciple" and there is the "intrest".When making payments on a loan you have an intrest rate and the payment goes mostly to the intrest.For example if you have a car loan and you are making $300.00 payments every month,a large chunk of that goes toward the intrest.You can however pay extra a be sure to mark it on your bill that it is to go towards the principle and that extra goes to lowering what you owe on your car. |
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Mariposa
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It is the amount you got the loan for. The principle does not include the money paid for interest charges or late fees. |
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bigizz75
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the amount being borrowed is the principle |
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bubba
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You were spelling it wrong....you should give me the points because I was the ONLY one pointing that out...anyhow...
prin·ci·pal -- A sum of money owed as a debt, upon which interest is calculated. |
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