👉 Repayments in the context of finance refers to payments that are made over time or by a specific period, typically as part of an agreement with another party. These payments can be made through various means such as cash, credit card, debit card, or installment plans.
Repayment terms vary greatly depending on the specifics of the agreement and the circumstances surrounding it. Some common repayment options include:
1.
Payment in Full
: This is when a person pays off all outstanding debt within a specific time frame
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What is the definition of Repayments? 🙋
What is the definition of Repayment? 🙋
👉 In finance, a repayment is an amount of money that someone owes to another person or organization. It can be used as a monetary payment for something they owe, such as a loan or debt. Repayments are typically made in the form of regular payments over time, and they help to settle debts and reduce the interest on them.
