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Installment plan

Installment plan, system of credit by which merchandise is paid for over a fixed period of time in installments known as deferred payments. Normally, part of the purchase price must be paid at the time of the sale. Goods generally bought using an installment plan are automobiles, farm machinery, and homes.

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21st Century Webster's Family Encyclopedia21st Century Webster's Family Encyclopedia - Inert gas to Jaruzelski, Wojciech