Question

The payment of a portion of the amount initially borrowed of an installment note is referred to as a.principal only. b.interest only. c.any amount able to be paid. d.principal and interest.

Answer 1

Answer:

Option A Principal Amount

Explanation:

Because the amount paid additional to the interest is repayment of loan which is the principal amount. So the option A is only correct. The other options discusses about interest which is not the portion of the amount initially borrowed.