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 Western District Court, however, ruled the payments were FICA wages since they had been made because of the teachers' employment relationship with the school district and would have been received by the taxpayers had they continued teaching.
Contrary to the instruction, settlement documents allege, BH CFO and BH Controller subsequently authorized the BH Tax Manager to proceed with the payment to the Indonesian official.
One illustration of such mixing and matching would be for a teacher to receive set monthly tuition payments September through June, followed by a payment in July for summer camps or a required number of summer lessons, followed by a payment in August for an annual fee, such as a workstation or studio fee.
The Federal Reserve Banks conducted the study to gain a better understanding of the dynamics of the retail payment system," said Roger W.
Taxpayers making any such payment on or before December 17,2001 will be deemed to have made such payments on the original due date and will not be subject to penalties.
As additional countries, transaction types and payment networks are incorporated, the rules and specifications will be amended.
Forecasts wholesale payments processing IT spend by region until 2009, with spend broken down by source, activity and countries.
This case resolves the issue of whether parents' general obligation to support their minor children after the death of an ex-spouse automatically causes the creation of a substitute payment liability when undesignated family support payments are present, and rejects the application of the "worst case scenario approach" to that situation.
7) The Service clarified that the plaintiff would receive all amounts from a periodic payment settlement free from Federal income tax.
It provides in pertinent part that "compensation paid by other employers (whether private enterprises or governmental entities) to members of the Armed Forces cannot be excluded under section 112, even if the payment is made to supplement the member's military compensation or is labeled by the employer as compensation for active service in the Armed Forces of the United States.