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  2. In the US, these phrases have different meanings. Pay out would not be part of a purchace on installment; pay out is what a company does to distribute funds. Payment - the individual amounts paid toward the total owed. Payoff - the final payment, or the amount that if paid now would be the full amount owed.
    english.stackexchange.com/questions/489287/pay-out-vs-pay-off
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