Installment Plan

Pronunciation: /ɪnˈstɔlmənt plæn/

Definitions of installment plan

noun a system for paying for goods or services in regular amounts over a period of time, rather than paying the full amount at once

Example Sentences

A1 I signed up for an installment plan to pay for my new phone.

A2 The installment plan allows customers to pay for their purchases in monthly installments.

B1 She chose the installment plan option when buying furniture for her new apartment.

B2 The installment plan offered a convenient way for customers to spread out their payments over time.

C1 The installment plan included a small interest fee for the convenience of paying in installments.

C2 The company's installment plan was flexible, allowing customers to adjust their payment schedule if needed.

Examples of installment plan in a Sentence

formal The customer opted for an installment plan to pay for the new furniture over several months.

informal I'm thinking of signing up for the installment plan to spread out the cost of the laptop.

slang I'm gonna go with the installment plan so I don't have to drop all the cash at once.

figurative Using an installment plan is like breaking down a big task into smaller, more manageable steps.

Grammatical Forms of installment plan

• past tense: installed
• plural: installment plans
• comparative: more installment
• superlative: most installment
• present tense: installment plan
• future tense: will install installment plan
• perfect tense: has installed installment plan
• continuous tense: is installing installment plan
• singular: installment plan
• positive degree: installment plan
• infinitive: to install installment plan
• gerund: installing installment plan
• participle: installing installment plan

Origin and Evolution of installment plan

First Known Use: 1852 year

Language of Origin: English

Story behind the word: The concept of installment plans dates back to ancient times when merchants allowed customers to pay for goods over a period of time.

Evolution of the word: The term 'installment plan' has remained relatively consistent in its meaning since its first known use in the mid-19th century, referring to a system of paying for goods or services in multiple scheduled payments over time.