Principal and interest

{
  "id": "MLC-T-ECS-001485",
  "term": "Principal and interest",
  "field": "Economic statistics",
  "definition": "Referred to in the American Housing Survey, any time money is borrowed, the amount borrowed (principal) and the fee the lender charged for borrowing (interest) must be paid back. Lending institutions use the process of amortization to determine your monthly payment, which is a combination of principal and interest.",
  "see_also": [
    "Monthly payment for principal and interest",
    "Mortgages"
  ],
  "references": [
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/principal-and-interest/"
}