Examlex
The national deficit is the difference between our nation's exports and its imports.
Level of Learning 1: Knowledge of key terms
Monthly Payment
The specific amount of money paid each month, typically used in the context of loans, that includes both principal and interest.
Principal
The balance, or amount of money, in an account, or amount borrowed.
Interest
The cost of borrowing money or the payment received for lending money, usually expressed as a percentage of the principal.
Credit Card Statement
An accounting of the credits and debits in the form of a monthly report sent to a credit card holder.
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