Payment


Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Idioms, Encyclopedia, Wikipedia.
Related to Payment: payment request, Samsung Pay

Payment

The amount required to repay a loan, including interest and fees.

Payment

The reception of compensation for a good or service. For example, if one sells a hairdryer for $10, the payment is $10. In a cash sale, payment is made immediately or almost immediately, while in a credit sale, payment may be delayed for a certain period of time.

payment

Funds given to another in exchange for goods or services or as reimbursement for money loaned.A mortgage payment may consist of interest only;it could be a combination of principal and interest; or it could also include sums for real estate taxes, property insurance, and/or private mortgage insurance. In order to use Microsoft Excel to calculate your monthly principal and interest payment for a mortgage, do the following:

1. In cell A1, place the annual interest rate.

2. In cell A2, place the number of months of the loan to fully amortize it.

3. In cell A3, place the principal amount of the loan.

4. In cell A4, write the following formula exactly: pmt(A1/12,A2,A3)

5. Cell A4 will calculate your monthly payment.

References in periodicals archive ?
The following describes how the CSX case and another--on payments to tenured teachers--played out in the appeals courts.
During KPMG-SSH's meetings with an Indonesian tax official to discuss the merits of the tax assessment, the tax official repeatedly requested that PTEC make a payment to the official.
Excessive end of-the-month bookkeeping was no longer needed because parents always knew the exact payment expected each month.
Approximately 1,300 financial institutions, including banks, thrift institutions, and credit unions, and 89 electronic payment processors responded to three surveys that looked at methods and volumes of retail payments.
In addition, any such taxpayer will be deemed to have reasonable cause for any late payment accompanying a return filed on or before Dec.
The payment rules were written to be neither country- nor network-specific, to enhance their adoptability and global appeal.
This report combines all seven briefs from the wholesale payments processing theme for H2 2006.
The IRS's determination of what makes up a needs-based payment varies, depending on what the payment is being made for.
The idea that a tort victim would receive a stream of payments payable over his or her life (as opposed to a lump sum) raised a variety of issues, including the appropriate tax treatment of such a payment stream.