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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 virtual accounts payment model is used to build a series of virtual accounts, held by nonbanks (such as Alipay, YeePay, and Paypal which are all Internet third party payment service providers) between Internet traders.
From what has been described above, the Internet third party payment provider in China possesses three key characters: (7)
Before providing any legal analysis on licensing and retained funds of Internet third party payment providers, the author would like to introduce important legislation--the 'Measures of Management on Payment and Clearance Organisations' and international aspects of this crucial 'Measures'.
Third, the second consultation version of the 'Measures' added that Internet third party payment providers need to establish 'risk funds', and top up the 'risk funds' in accordance to the proportions being withdrawn from the organisations' business profits annually; the 'risk funds' may not be used for any forms of investment or guarantee.
Fourth, the second consultation version also imposed Internet third party payment providers' obligation in working with relevant departments to fight against money laundering, as well as the informing of suspicious transactions at the earliest possible moment.
Literally speaking, both versions of the consultation draft of the 'Measures of Management on Payment and Clearance Organisations' addressed very few international aspects on Internet third party payment providers and other types of payment and clearance organisations.
In more specific terms, in the Internet third party payment market, over ninety-six percent of the market proportion was dominated by Chinese providers.
About the TPPPA The Third Party Payment Processors Association (TPPPA) is a national not-for-profit industry association representing and promoting the interests of payment processors, their financial institutions and their merchants.
This means that the retailer is paid by the likes of PayPal, not your card provider direct, changing the chain: consumer > credit card provider > PayPal> retailer Most third party payment providers, however, have their own protection.
Doyle noted that retirement communities not only are burdened by the high costs of medical staffing, but also are finding that third party payments are slow and frequently inadequate.
The court observed that the District Court noted that third party payments intended to cover prescription drug costs can be used to offset the costs of "any type of care" paid for by the Medicaid program, but "if there is an injury, in that respect, it would be an injury to the insurance policy carrier or the policy holder not to the healthcare provider.
3 million in third party payments to the State in State Fiscal Year 2011 alone.

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