"Installment" Pronounce,Meaning And Examples

"Installment" Meaning

A specified portion of a debt or payment that is to be paid at fixed intervals, such as monthly or yearly, until the debt is fully paid.

"Installment" Examples

Definition:

Installment
A portion of a payment or the acquisition of something, such as property, that is made in separate parts over a period of time.

Usage Examples:

1. Mortgage Installments

After signing the mortgage agreement, John began making monthly installment payments to the bank.

2. Car Installments

To purchase a brand-new car, Sarah agreed to pay monthly installments of $500 for the next five years.

3. Education Installments

Throughout the four years of her undergraduate program, Sophia paid annual installment fees to the university.

4. Credit Card Installments

To clear the outstanding balance on her credit card, Emily began paying monthly installment amounts of $200.

5. Property Installments

After purchasing a plot of land, the developer was required to make quarterly installment payments to the government for the next ten years.