lump-sum payment

Definition

Repayment of a debt by a single payment, including principal and any accrued interest. A note may provide for periodic interest payments and one lump-sum principal payment, for example.

Use lump-sum payment in a sentence

You may want to give a lump-sum payment instead of trying to make a bunch of small payments over and over.

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The current lottery winner chose to take their $300 million winnings in one lump-sum payment which equaled $200 million after-tax.

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I would pay it all in one lump-sum payment, which meant that everyone was going to be okay because we would not have any ongoing payments.

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