repayment
Pronunciation: [rɪˈpeɪmənt]
Word
Context: “finance”
(noun) the act of giving money back after borrowing it. If you take money from a bank to buy something, you have to pay it back later. That process is called repayment.
Example
Her repayment of the loan helped improve her credit score.
Example
His failure to make the repayment on time caused issues with his bank.
Example
When is your next repayment due for the loan?
Context: “debt management”
(noun) a payment made to settle a debt. This is when you give money back to someone you owe, like when you borrow some money from a friend and then pay them back.
Example
She made a repayment to her friend, so now she doesn't owe any money.
Example
He was worried because he missed his repayment for the credit card bill.
Example
How much is the repayment for the car loan each month?
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