Outrageously Funny Word Dictionary :: Installment

👉 In finance, "installments" refer to a payment method used by individuals or companies to pay for goods and services over time. The term is often used in conjunction with "monthly payments" but can also be applied to any periodic payment that covers multiple instalments of a fixed amount each period. The basic idea behind installments is simple: the consumer pays a fixed sum at regular intervals, such as monthly or quarterly, for a certain product or service. This allows consumers to pay off the entire

installments

👉 An installment is a payment made in advance to purchase goods or services. It is typically paid over a period of time, usually several months or years, with interest added on top of the principal amount. The term "installment" refers to the act of paying a sum of money at regular intervals over a specified time frame.

installment