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.
If you have an outstanding balance of $2,000 with 18.5% APR and a low monthly minimum payment, it would take over 11 years to pay off the debt and cost you $1,934 just for interest. This almost doubles the original cost of purchase.