equal installment
[/ˈiːkwəl ɪnˈstɔːlmənt/]
nounpl: equal installments
parcela igual
1. A payment plan where a debt or purchase is divided into equal amounts paid at regular intervals
The car loan was structured as equal installments of $350 per month for five years.
O financiamento do carro foi estruturado em parcelas iguais de R$ 350 por mês durante cinco anos.
2. A fixed payment amount in a series of periodic payments that remain constant throughout the payment period
The furniture store offers equal installments with no interest for qualified buyers.
A loja de móveis oferece parcelas iguais sem juros para compradores qualificados.
In Brazil, equal installments (parcelas iguais) are extremely popular for consumer purchases and are often advertised as 'parcelado em X vezes' (installments in X times). Retail stores frequently offer interest-free equal installment plans to encourage purchases. In the USA, this concept is fundamental to consumer finance and is regulated by the Truth in Lending Act.
Related Idioms & Phrases
pay in equal installments
break down into equal installments
divide into equal installments
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