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What is the difference between principal and interest when applying for a loan

What is the difference between principal and interest when applying for a loan
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2 votes
What is the difference between principal and interest when applying for a loan

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User Bertrand Miot
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1 Answer

2 votes
Principal is the amount you borrowed and have to pay back
Interest is what the lender charges for lending you the money.
answered
User John Klakegg
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8.2k points
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