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9 November, 19:12

If you take out a $1,000 loan for college at 7% interest, what is the principal?

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Answers (2)
  1. 9 November, 19:13
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    The principal is the amount of the loan. the interest is completely separate. So in this case the answer is $1000.
  2. 9 November, 19:40
    0
    The principal is the loan amount, $1,000
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