Repayment Meaning: Definition, Examples, and Translations

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repayment

[rษชหˆpeษชmษ™nt ]

Definitions

Context #1 | Noun

financial

The action of paying back a loan or money that was borrowed.

Synonyms

clearing, payment, settlement.

Examples of usage

  • The repayment of the loan is due at the end of the month.
  • She made regular repayments on her mortgage.
Context #2 | Noun

general

An act of returning or restoring something that has been lost or stolen.

Synonyms

reimbursement, restitution, return.

Examples of usage

  • The repayment of the stolen goods was appreciated by the owner.
  • He demanded repayment of the lost items.

Translations

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Interesting Facts

Economics

  • Repayment can impact credit scores, which affects an individual's ability to borrow money in the future.
  • In economics, timely repayment is crucial for maintaining lender trust and reducing the risk of defaults.

Cultural Perspectives

  • In many cultures, repaying debts is seen as a moral duty and a sign of integrity.
  • Some societies have formal repayment ceremonies to honor financial obligations.

Literature

  • In many stories and fables, characters face consequences for failing to repay debts, illustrating moral lessons about responsibility.
  • Classic literature often explores themes of debt and repayment, reflecting societal values about honor and obligation.

Law

  • Legal agreements often specify repayment terms to protect both borrowers and lenders.
  • In case of failure to repay, legal actions can be taken, which might include garnishing wages or seizing assets.

Origin of 'repayment'

Main points about word origin

  • The word comes from the prefix 're-' meaning back or again, and 'payment' which refers to the act of giving money for goods or services.
  • Historically, payment was often made in goods or services, not just money, making repayment a broader concept in ancient times.

The word 'repayment' originated from the combination of 're-' meaning back, again, and 'payment'. It first appeared in the 14th century in Middle English. The concept of repayment has been an integral part of human interaction and finance throughout history, reflecting the importance of honoring commitments and restoring what is owed. Over time, repayment has evolved to encompass various forms of returning borrowed items or settling debts, playing a crucial role in economic relationships and personal integrity.


See also: nonpayer, nonpayment, pay, payable, payback, payee, payer, paymaster, payment, payments, payoff, payor, paywise, repay, spay.

Word Frequency Rank

Position #7,784 indicates this is an advanced-level word. While not essential for basic communication, it will enhance your ability to understand and create more nuanced content.