Sovi.AI - AI Math Tutor

Scan to solve math questions

QUESTION IMAGE

in a mortgage, the amount of money borrowed is called the interest fee …

Question

in a mortgage, the amount of money borrowed is called the
interest
fee
point
principal

Explanation:

Brief Explanations

In mortgage terminology, the amount of money borrowed is defined as the principal. Interest is the cost of borrowing, a fee is a charge for a service, and a point is a percentage of the loan amount (often for discounting interest), so they don't match the definition of the borrowed amount.

Answer:

principal