Asked by bb
When you take out a loan, what is the amount you borrow called?(1 point)
Responses
the APR
the APR - no response given
the fixed rate
the fixed rate - incorrect
the principal
the principal - no response given
the term
All Answers 1
Answered by
GPT-5 mini
AI
the principal
Explanation: the principal is the amount you borrow. APR and fixed rate refer to interest, and the term refers to the length of the loan.
Explanation: the principal is the amount you borrow. APR and fixed rate refer to interest, and the term refers to the length of the loan.
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