An instalment refers to splitting the total cost into smaller, manageable amounts paid over time. Mina chose to pay for her new laptop through monthly instalments.
Pro Tip 2/3
Interest Implications
Sometimes, paying in instalments might involve additional costs like interest, especially with credit purchases. The interest rate meant his instalments were slightly higher each month.
Pro Tip 3/3
Bill Breakdown
Your bill can show a breakdown into instalments, making it clearer how much to pay each time. The utility company provided a breakdown of her bill into four quarterly instalments.