Ask Question
6 December, 10:03

Which word represents the total cost of the item you're purchasing on credit minus any down payment you make upfront?

APR

Principal

Term

Interest Rate

+1
Answers (1)
  1. 6 December, 10:15
    0
    The correct answer is letter "B": Principal.

    Explanation:

    For banks, the principal refers to the amount due after any down payment on a loan and is used to calculate interest payment. For instance, a borrower with the principal amount of $10,000 and an Annual Percentage Rate (APR) of 5% will have to pay $500 in interest for any year that the loan is outstanding.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Which word represents the total cost of the item you're purchasing on credit minus any down payment you make upfront? APR Principal Term ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers