repayment

UK: rɪˈpeɪmənt | US: rɪˈpeɪmənt

Definition

  1. n. the act of paying back money that has been borrowed

  2. n. something (e.g., money) returned as compensation or restitution

Structure
re <again>pay <give money>ment <noun suffix>
Etymology

The word "repayment" combines three morphemes:

  1. "re-" (from Latin, meaning "again") indicates repetition.
  2. "pay" (from Old French "paier," meaning "to give money") retains its core meaning of monetary exchange.
  3. "-ment" (a noun-forming suffix from Latin "-mentum") turns the verb "repay" into a noun denoting the action or result.
    The term evolved in Middle English, reflecting the concept of restoring owed funds, with "re-" emphasizing the return aspect.
Examples

  1. The loan agreement specifies a monthly repayment schedule.

  2. Early repayment of the debt may reduce interest charges.

  3. She struggled with the repayment of her student loans.

  4. The bank offers flexible repayment options for borrowers.

  5. His repayment of the favor was greatly appreciated.