Pete Wants A Loan Of $1,500. Which Of These Terms Describes The Money He Wants To Borrow?

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 The term that describes the money Pete wants to borrow is "principal." In a loan agreement, the principal refers to the initial amount of money borrowed from the lender. In this case, Pete wants to borrow $1,500, so that amount represents the principal of the loan.

The principal is one of the key components of a loan, along with the interest rate and the repayment terms. When Pete repays the loan, he will typically make payments that include both principal and interest. Over time, as Pete makes payments, the principal balance will decrease until the loan is fully repaid

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