Principal
The amount of money you borrowed or deposited, excluding any accumulated interestA charge for borrowing money, most often based on a percentage of the amount owed. More. Some examples include:
- Credit cards: The amount of purchases you have made but not paid on your credit card bill.
- Car loans: The portion of the amount you paid for your car that you have not paid off.
- Mortgages: The portion of the amount you paid for your house that you have not paid off.
- Savings account: The balance in the account.
I am also a retired property-casualty actuaryA professional who assesses and manages the risks of financial investments, insurance policies and other potentially risky ventures. Source: www.investopedia.com/terms/a/actuary.asp More (someone who works with the math and statistics related to insurance). I spent a significant portion of my career building statistical models of all of the financial risks of an insurance company and interpreting their findings to help senior management make better financial decisions. I retired in my late 50’s, which one of my daughter’s friends thought clearly qualified me to write this blog. Read more about Susie Q