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Karilyn begins studying each evening by doing her math at the kitchen table,so she can talk to her mother who is preparing dinner.Then,she goes to her room and reads her psychology,history,and literature textbooks for a couple of hours more while listening to music or watching TV.She usually texts her friends several times during the evening about the assignments as well.Regarding her study habits,Karilyn should
Principal Paid
The portion of a loan payment that goes toward reducing the original amount borrowed, distinct from interest or other fees.
Extra Payments
Additional payments made over the required minimum payment on debts like loans or mortgages, aimed at reducing the principal balance more quickly.
Total Interest
The total amount of interest paid over the lifetime of a loan.
Life of the Loan
The duration over which a borrower is required to make payments until the loan is paid off in full.
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