One of several payments made over time for something you buy, or one part of a story released in parts over time.
From 'install' (from medieval Latin 'installare,' to put in place) + '-ment' (noun suffix). The financial meaning developed in the 19th century with modern retail.
The installment plan was invented to let ordinary people buy things they couldn't afford upfront—it democratized shopping and is why almost all big purchases today are still paid in installments.
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