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


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.


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 Eastern District Court ruled in favor of the taxpayers, saying the payments were not for past, present or future services but rather payments for not working.
3) In some cases, companies can be held liable for payments made by third parties acting on their behalf, whether or not the company had actual knowledge of the payment.
While Jones opted for forbearance, there are plenty of other ways to stay on track with student loan payments without breaking the bank.
That income could be divided into nine equal monthly payments of $133 or ten monthly payments of $120 per student.
vice chairman of the Federal Reserve Board, "and we believe the results clearly paint a picture of a payments system in migration.
Interest at the appropriate underpayment rate must be paid on all tax payments received after the original due date calculated from the original due date to the date of payment.
In 1995 the Canadian government switched from paper checks to electronic disbursements for pension payments to retirees residing in Florida.
Alimony payments are deductible for tax purposes for a payor spouse but represent gross income to the payee.
Plaintiffs may be able to defer income recognition from nonphysical injury recoveries to when the payments are actually received.
The Internal Revenue Service first ruled on the issue of differential payments more than 60 years ago.