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 just pay the minimum of 2% ($100) and have no additional charges, $50 of the payment goes to pay the interest and your balance is paid down to $4,950. If you continue on that schedule, it will take you 299 months (almost 25 years) to pay off the balance.