Final Payment (Noun)
Meaning
The final payment of a debt.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The lender required a final payment of $5,000 to settle the outstanding mortgage balance.
- After years of making monthly installments, she made the final payment on her car loan.
- The company made the final payment to the contractor, marking the completion of the construction project.
- He struggled to make the final payment on his student loan, but finally managed to scrape together the funds.
- The final payment on the credit card debt was made, and the account was closed.