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The amount required to repay a loan, including interest and fees.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Calculation of APRs has been done as if rent-to-own payments are pure purchase payments. The purpose of this paper is to examine the complex economics of rent-to-own contracts and to use the resulting conclusions to calculate implicit interest rates on a sample of rent-to-own contracts.
They offer investors the ability to build a stream of future annuity payments over time rather than making a single, lump sum purchase payment at the end of the deferral period for annuity payments that begin immediately, Champ said.
It results in an annual payout of $9,925 per $100,000 purchase payment (9.9%).
If the retiree in the chart above had purchased a fixed deferred annuity for $157,000 at age 55, based on current interest rates he'd have $178,077.49 at age 62 --enough to cover the $177,832.20 purchase payment he'd need for an eight-year period certain immediate annuity that would allow him to delay starting Social Security benefits until age 70.
In addition, Crestwood Midstream Partners LP will pay another USD8m deferred purchase payment on 1 November 2012, subject to customary post-closing adjustments.
The basic death benefit ensures that the investor's beneficiaries will receive either the purchase payment or the market value of the annuity at the time of death, whichever is greater.
Her projected monthly lease and purchase payments are Purchase payment $784 (due at end of month) Lease payment $392 (due at beginning of month) Lease savings $392 (50% of purchase payments)
The initial annual income is 5% of the purchase payment, but the benefit base can increase by 6% for each year an owner does not take a withdrawal.
Their purchase payment is allocated between a fixed account and a variable investment choice designed to provide results that correspond to the price and yield performance of the S&P 500 stock index.
The basic death benefit, one of several insurance features of the product, ensures that an investor's beneficiaries receive the greater of either the purchase payment or the market value of the annuity at the time of death.