Deferred Payment for Dummies
noun
What does Deferred Payment really mean?
Hey there! So, let's talk about the phrase "deferred payment." When we say "deferred payment," we're talking about delaying or postponing the payment of something. Let me break it down for you.
Imagine you want to buy a new bike, but you don't have enough money to pay for it right now. So, instead of paying for the bike in full at the time of purchase, you arrange with the bike shop to make payments over time. This means you're deferring, or putting off, the full payment for the bike to a later date.
Another example is when you go to college and take out a student loan. You don't have to start making payments on that loan until after you graduate, which means the payments are deferred until a later time.
So, in simple terms, deferred payment is when you agree to pay for something at a later date, instead of paying for it all at once. It's like hitting the pause button on making a payment and scheduling it for a later time.
I hope that helps! Let me know if you have any more questions about it.
Imagine you want to buy a new bike, but you don't have enough money to pay for it right now. So, instead of paying for the bike in full at the time of purchase, you arrange with the bike shop to make payments over time. This means you're deferring, or putting off, the full payment for the bike to a later date.
Another example is when you go to college and take out a student loan. You don't have to start making payments on that loan until after you graduate, which means the payments are deferred until a later time.
So, in simple terms, deferred payment is when you agree to pay for something at a later date, instead of paying for it all at once. It's like hitting the pause button on making a payment and scheduling it for a later time.
I hope that helps! Let me know if you have any more questions about it.
Revised and Fact checked by Patricia Williams on 2023-11-15 08:57:19
Deferred Payment In a sentece
Learn how to use Deferred Payment inside a sentece
- When you buy a new bike, you can choose to pay for it all at once or you can make a deferred payment, which means you can pay for it later in smaller amounts.
- Sometimes when you go to a doctor or dentist, they allow you to make a deferred payment for the cost of the appointment instead of paying right away.
- If you want to go to college but don't have the money right now, you might be able to make a deferred payment plan so you can pay for your classes later.
- When you visit an amusement park, they might offer you a deferred payment plan so you can pay for your tickets over a longer period of time.
- If you want to buy a new computer but can't afford it all at once, you might be able to set up a deferred payment plan with the store where you can pay for it over time.
Deferred Payment Synonyms
Words that can be interchanged for the original word in the same context.
Deferred Payment Hypernyms
Words that are more generic than the original word.