Repayments

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Repayments are the payments you make to pay off (pay back) a loan. Usually you will have to make repayments every month, whether it's a mortgage repayment, a car loan, or payments to a credit card company. Repayment amounts will usually consist of part of the principal plus the interest charged. A mortgage repayment will usually also include money to pay for property taxes and maybe private mortgage insurance if you are required to buy it.