# 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.

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 ?
Compared with the third party payment company, the telecom carrier can build and operate mobile payment platform independently, it do not have the dependence on the third party payment company, that is [[PI].sub.mn] [not equal to] 0.
In this article, the working mechanisms of the Internet third party payment are firstly introduced.
The number of active users of its online third party payment service skyrocketed from 1,500 people ended 31 March 2014 to 240,000 people ended 31 October 2014, driving transaction volume from RMB360 million in three months ended 31 March 2014 to RMB9.4 billion in ten months ended 31 October 2014 and number of transactions from 65,000 in three months ended 31 March 2014 to 715,000 in ten months ended 31 October 2014.
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.
The revenue growth was mainly attributable to the increase in interest income from the Group's entrusted loan service and micro loan service, as well as the new income streams from providing P2P loan consultancy service and online third party payment service.
Basically, credit a companies and other vendors that handle third party payments, such as Amazon, PayPal or eBay, w track the quantity and dollar amount of payments made to each client.
A key security feature is the introduction of a one-time password for third party payments. A new beneficiary can now be registered only after entering a one-time password which is sent directly to the customer's mobile number registered with the bank, he said.
The services enables businesses to perform banking transactions such as payroll processing, bulk payments, third party payments, Central Bank transfers, local and international telegraphic transfers, preferential foreign exchange rates, access to account statements, credit card payments, and other features 24X7 days year round.

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