Answered

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You charged $500 to your credit card to buy a new TV and paid it off after
6 months. With interest, you paid back a total of $600. Which of the
following is the principal in this situation?
$500.
6 months.
$100.
D
$600.

Sagot :

seansgirl1013

Answer:

$500

Explanation:

ogorwyne

Given this question that we have here, the principal is the initial $500 that was charged to the credit card.

In the field of accounting, the principal amount can be described as the initial amount that was given off as a loan. That is without the addition of the interest amount.

It is the initial size of a loan. The answer here is $500 because that is the amount that was charged at first to the card. The payback amount only got to $600 because of the addition of the interest amount.

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