Pronunciation: [mˌe͡ɪk ɹɪpˈe͡ɪmənt] (IPA) 
The word "make repayment" is spelled with the IPA symbols /meɪk/ for "make" and /rɪˈpeɪmənt/ for "repayment". The "a" in "make" is pronounced as "ey" as in "hey", while the "e" in "repayment" is pronounced as "ih" as in "bit". The stress is on the second syllable of "repayment", as indicated by the accent mark above the "i". To make repayment means to pay back money borrowed or owed.
The term "make repayment" refers to the act of fulfilling a financial obligation by returning borrowed funds or paying back a debt. It involves returning the financial resources, usually money, that were borrowed from a creditor or lender. This process typically occurs within the agreed-upon timeframe or according to the terms outlined in a loan or credit agreement.
When an individual or entity makes repayment, it signifies their commitment to honoring the financial obligation and shows their willingness to fulfill their responsibilities. The act of making repayment typically involves returning the borrowed funds in their entirety, which includes the principal amount borrowed as well as any applicable interest or fees that may have accrued over time.
Repayments can come in various forms, depending on the nature of the financial transaction. They may be made through regular installments or scheduled periodic payments structured by the lender. This allows the borrower to gradually repay the borrowed amount over a set period. Alternatively, repayments can also be made as a lump sum, where the borrower returns the entire borrowed amount in a single payment.
Making repayments is crucial in maintaining a favorable financial standing, as it demonstrates financial accountability and reliability. Failure to make timely repayments can lead to penalties, late fees, or damage one's credit score, which may affect future borrowing capacities. Therefore, it is important for borrowers to responsibly manage their financial commitments and prioritize making repayments as agreed upon.
The etymology of the phrase "make repayment" can be traced back to the combination of two separate words.
1. Make: The word "make" originated from the Middle English word "maken" and Old English word "macian". It has roots in various Germanic languages and originally meant "to construct", "to create", or "to form". Over time, its meaning expanded to include actions such as "to cause" or "to cause to be". In the context of "make repayment", the word "make" refers to the action of carrying out or performing the repayment.
2. Repayment: The word "repayment" came from the combination of the prefix "re-" meaning "again" or "back" and the root word "payment".
