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  2. "pay-off" vs "payoff" Both 'payoff' and 'pay-off' are correct, but 'payoff' is more commonly used. They both refer to the profit or benefit gained from an investment or action.
    textranch.com/c/payoff-or-pay-off/
    Pay off means to pay the full amount of a debt or to receive a benefit as a result of hard work or effort, while pay out means to give someone money, especially as compensation or as a result of a bet.
    redkiwiapp.com/en/english-guide/phrasal-verb-pair…
     
  3. People also ask
    What is the difference between payment and payoff?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. (Payoff can be one word as a noun in this jargon, but as a verb it is “pay off”. “What is my payoff amount? I want to pay off my loan and be done with it.” Pay out is unrelated.
    What is a payoff amount?Your payoff amount is how much you will actually have to pay to satisfy the terms of your mortgage loan and completely pay off your debt. Your payoff amount is different from your current balance. Your current balance might not reflect how much you actually have to pay to completely satisfy the loan.
    What is a payoff statement?A payoff statement is a document that shows how much money a borrower will need to submit to their lender to fully pay off, or satisfy, a mortgage or other loan. Payoff statements are prepared by lenders. Also called a "mortgage payoff letter" (when applied to a mortgage loan), payoff statements always include the following information:
    What is a payoff amount on a home loan?Your current balance might not reflect how much you actually have to pay to completely satisfy the loan. Your payoff amount also includes the payment of any interest you owe through the day you intend to pay off your loan. The payoff amount may also include other fees you have incurred and have not yet paid.
     
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