prepayment in a sentence
n.
📚 Grade Level: Grade 9, Grade 10, Grade 11, Grade 12
Definition
Prepayment refers to the act of paying for a loan or service in advance of the due date, often resulting in reduced costs or interest.
Crossword clues for prepayment
Crossword clue ideas and answer hints for the word "prepayment".
- Paying ahead of time for a service
- Advance payment for a loan
- Settling bills before the due date
- Paying early to save on costs
- Upfront payment to reduce interest
Prepayment sentence examples
- Prepayment of the loan can significantly reduce the total interest paid over time.
- The company offers a discount for customers who choose to make a prepayment on their annual subscription.
- Before proceeding, make sure to review the terms regarding prepayment penalties in the contract.
- Many service providers require a prepayment to secure bookings during peak seasons.
- They decided to make a prepayment to ensure they would have the funds available for unexpected expenses.