Cambodian definition, of, relating to, or characteristic of Cambodia, its people, or its culture. See more.
Outstanding Principal Balance The outstanding principal balance of a mortgage is simply the total amount of money it would take to pay off the loan in full. How much this amount is depends on how much was originally borrowed, how much has been paid down, and what the annual interest rate is.
During the next month, recalculate the interest based upon a principal balance of $9,541.66, which is the original principal balance, subtracted by the principal payment of $458.34. Repeat this step until the balance of the loan is zero. Keep track of the number of months that it takes to reach zero. The number of months is the maturity date.