Which javascript:void(0)statement is true about principal?(1 point) Responses It is the amount you borrow. It is the amount you borrow. It is a percentage of the amount you borrow over time. It is a percentage of the amount you borrow over time. It is a simple way to compare all the various elements of different loans. It is a simple way to compare all the various elements of different loans. It is everything you pay in addition to repaying the amount you borrow.

Answer 1

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

The principal is the original sum of money borrowed in a loan or put into an investment, excluding any interest or fees.