balloon payment
Definition of balloon payment
US
: a final payment that is much larger than any earlier payment made on a debt They agreed to pay $1,000 a year for five years and then make a balloon payment of $50,000 at the end of the term.
People Are Reading
Word by Word Definitions
: a nonporous bag of light material that can be inflated especially with air or gas: such as
: a bag that is filled with heated air or a gas lighter than air so as to rise and float in the atmosphere and that usually carries a suspended load (such as a gondola with passengers)
: an inflatable bag (as of rubber or plastic) usually used as a toy or for decoration
: relating to, resembling, or suggesting a balloon
: having or being a final installment that is much larger than preceding ones in a term or installment note
: to swell or puff out : expand
: to ascend or travel in or as if in a balloon
: to increase rapidly
: the act of paying
: something that is paid : pay
: requital
Seen and Heard
What made you want to look up balloon payment? Please tell us where you read or heard it (including the quote, if possible).
Writing? Check your grammar now!