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.
The simple in a simple interest loan means that interest is only calculated on the outstanding principal balance. Simple interest does not compound and increase the loan balance.The amount of interest to be paid for each monthly payment cannot increase. If you're late or miss a car loan payment, the missed interest payment will not be added to the loan balance, and additional interest will not be calculated on the higher balance.nterest Calculated on Principal Balance. With a simple interest loan, the interest paid is calculated on the outstanding loan balance. As monthly payments are made and the balance decreases, the amount of interest paid will decrease.