Principal is the amount of money you are borrowing. Interest is the amount you are charged per month for borrowing money, expressed as a percent. Number of years, also known as the loan term, is the ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Eric's career includes extensive work in ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...