Question

Which statement is true about principal?(1 point) Responses It is a percentage of the amount you borrow over time. It is a percentage of the amount you borrow over time. It is the amount you borrow. It is the amount you borrow. It is everything you pay in addition to repaying the amount you borrow. It is everything you pay in addition to repaying the amount you borrow. It is a simple way to compare all the various elements of different loans.

Answer 1

The true statement about principal is: **It is the amount you borrow.**