Payment

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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 ?
When challenged as to why they had told the couple that there were no outstanding hire purchase payments due on the car, he said: "I didn't know about that.
Three out of every ten second-hand cars on sale are either stolen, written- off or have outstanding hire purchase payments.
If you want a more extensive check, the charge is pounds 28.50 a car to include investigating whether it had been previously written off or whether there are hire purchase payments outstanding.
Buyers of property should be aware of the extended recovery period of premium purchase payments made because of the existence of high rents.
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.
Leasing costs are considered an expense for tax purposes, and are comparable to purchase payments over the same period.
Pursuant to the Town Purchase Agreement, the town will make purchase payments to the trustee in amounts sufficient to pay debt service on the bonds; the MPC has assigned all of its rights to receive such payments to the trustee for the benefit of bondholders.
Payments firm PayPal has said that it is to purchase payments provider, iZettle.
Further, these surrender charges only apply to the contract's earnings or 10% of purchase payments. Many expect that the trend of fee-based annuities with short (or no) surrender periods and low surrender charges will continue as fees must be disclosed and the client's best interests must be taken into account.
A bonus amount, typically defined in the prospectus as a percentage of purchase payments, is allocated to the annuity accumulation value early in the contract period.
Records show that in the early days staff faced requests ranging from the lady struggling to meet hire purchase payments for a fur coat to the man who wanted a list of "eligible maidens" in the parish.