interest payment
Definition
A payment amount determined by the interest rate on an account. As a borrower, an interest payment represents the rate charged for being lent funds. As an investor, interest payments represent income on earned on cash accounts or fixed and variable rate securities.
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Business Tips
Repairing Credit by Paying More Than the Minimum Amount Due
Pay more than the minimum. If possible, always make payments over and above the minimum interest payment that is due. Credit bureaus not only look at the amount of debt an individual has outstanding, ... Read more
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