pay off


phrasal verb
  1. to finish paying money which is owed for something
    ExamplesHe won the lottery and paid off his mortgage. • She is trying to pay off the loan by monthly instalments.
  2. to terminate somebody's employment and pay all wages that are due
    ExampleWhen the company was taken over the factory was closed and all the employees were paid off.

Use pay off in a sentence

We worked long and hard to pay off the debt we had accrued over the years, and there was a real sense of satisfaction when that day came

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After he hit the lottery, he still owed a substantial amount, so he called the bank just to see exactly what the pay off amount totaled.

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Despite the fact that ABC Corp. had taken out a sizable loan from the local credit union, the company representative followed up the next day to pay off the remainder of the loan.

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