Installment Rate (Noun)
Meaning
The amount of money paid out per unit time.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company's installment rate for the new employee was a monthly salary of $5,000.
- The bank's installment rate for the mortgage loan was calculated as 0.05% of the principal amount per month.
- To calculate the total cost of ownership, we need to consider the installment rate of the product's maintenance and repair costs.
- The installment rate for the lease payments on the new equipment was set at $1,000 per quarter.
- The government's incentive program had an installment rate of a $100 monthly bonus for each job created by the small business.