Question

When you receive a loan, the money the lender gives you is called the ____________. a. interest b. line of credit c. principal d. collateral

Answer 1

Answer:

c : principal

Explanation:

What do you need to provide in order to get secured credit?

An asset.

Answer 2

When the loan is received by the person and the money which lenders give to the person is the principle. The principle is the money that needs to give back after a certain period.

What is a loan?

A loan is a quantity of the money borrowed from a bank or other financial institution. One or more persons or businesses to finance scheduled or unanticipated occurrences. The borrower thereby incurs a debt, which he must repay with interest and within a specified time frame.

Thus, option C is correct.

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