payment-schedule

Vocabulary Word

Definition

'Payment schedule' is a detailed plan of when and how much you must pay particular bills. It is often used in the context of loans or installments.

Examples in Different Contexts

For educational loans, a 'payment schedule' helps students plan their repayments. An education counselor might say, 'Let's review your payment schedule to ensure it's manageable with your budget.'

Practice Scenarios

Creative

Scenario:

Are you comfortable signing a contract? It protects both parties and makes sure deadlines and financial terms are agreed upon upfront.

Response:

I agree, having a contract with a clearly defined payment schedule will make the process much smoother.

Tech

Scenario:

We need to consider whether offering a quarterly subscription option will be more enticing for our users. It might line up better with their business cycles.

Response:

A quarterly payment schedule sounds like a great idea. Let's analyze the demand for this option among our users.