The principal of the loan is the original amount borrowed, which in this case is $40,000. Therefore, the correct response is:
$40,000
A student borrowed $40,000 for college and, over the course of the loan, repaid $55,000. What was the principal of the loan?(1 point)
Responses
$15,000
$15,000
$55,000
$55,000
$40,000
$40,000
$95,000
1 answer
1 answer