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Case's neo-Piagetian theory attributes movement from one stage to the next to increases in the efficiency with which children use their limited
Interest Portion
The part of a payment that covers the interest or cost of borrowing, as distinguished from principal or repayment of the borrowed amount.
Principal Reduction
The act of paying down the outstanding balance of a loan, not including interest, to reduce the principal amount owed.
Interest Payment
The amount paid by a borrower to a lender for the use of borrowed money, usually expressed as a percentage of the principal.
Note Payable
A liability representing a written promise to pay a specified amount of money at a future date, often including interest payments.
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