the price paid to a lender for borrowing money is called the\nprincipal.\npremium.\nloan balance.\nfinance…
the price paid to a lender for borrowing money is called the\nprincipal.\npremium.\nloan balance.\nfinance charge.
Answer
Brief Explanations:
Principal is the initial amount borrowed. Premium is often related to insurance. Loan - balance is the remaining amount of the loan. Finance charge is the cost of borrowing money, which is the price paid to the lender.
Answer:
finance charge.