Repayment of a debt by means of several partial repayments, the amount and timing of which are usually specified in detail in the contract. – The number and amount of household installment contracts (hire purchase agreements) are monitored by the central bank because they include inferences about consumers’ expectations also with regard to the value of money. – See amortization period, loans, single-payment commitment, final maturity, maximum maturities, Königsberg system, consumer credit, minimum installments, minimum interest rates, installment, forfeiture clause.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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