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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 ?
PA(r)]], then r [is less than] r' because the purchase payment is reduced by more (5) to (7) than the purchase amount is reduced.
Guaranteeda Values: Each purchase payment you make generates a specific amount of guaranteeda income.
As an alternative to its enhanced 6% interest credit option (Option B), Masters Extra also offers a purchase payment interest option that pays a 2% upfront interest credit on all first-year purchase payments and an interest credit of 2% of the account value at the end of every fifth-year anniversary (Option A).
Either version can be funded through a lump-sum payment or incremental purchase payments (a minimum of $2,500 initial purchase payment with $500 subsequent payments).
MassMutual RetireEase Choice differs from traditional deferred annuities in that it guarantees a specific amount of future income at the time a purchase payment is made.
The Benefit Base is the greater of eligible purchase payments, or the highest anniversary value (less purchase payments that are not considered "eligible") during the period in which anniversary values are being considered, each adjusted for withdrawals in excess of the feature's maximums (known as "excess withdrawals").
If contract owners die during their annuity's asset accumulation phase, the new standard death benefit backed by MassMutual and available under age 76 (based on the "owner" or purchaser of these two contracts), guarantees beneficiaries the greater of either contract value or purchase payments, less any withdrawal adjustment and applicable charges.
FutureSaver II also offers features such as the ability to make additional purchase payments after issue, an Optional Money Back Guarantee, and special liquidity options in the event of a terminal illness or confinement to a long-term care facility.
is pleased to announce that the final payments have been completed on two, previously announced, acquisitions in Brazil and the Company now has no outstanding purchase payments to be made on any of its properties obtained over the last several years.
choice of five-year or seven-year initial terms and surrender charge schedules; additional purchase payments accepted without restarting surrender charges; and a 2.
The GIS benefit applies to the initial purchase payment and will apply to subsequent purchase payments only if the amount of any subsequent purchase payment is greater than 25% of the sum of the total purchase payments applied to the contract (e.