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"payment of interest" is a correct and commonly used phrase in written English.
It refers to the act of paying the agreed upon amount of money for borrowing money, usually at a specified rate, from a lender. It can be used in various contexts, such as in financial documents, loan agreements, or discussions about investments. Example: The payment of interest on the loan must be made monthly, in accordance with the terms agreed upon in the contract.
Exact(59)
§ 1030.7 Payment of interest.
Islamic law prohibits the payment of interest.
§ 246.6 Collection of assessments; payment of interest.
According to the Taliban, Koranic law prohibits the payment of interest.
They paid cash, because Islam forbids payment of interest in most cases.
Debt instruments without a maturity date, requiring merely the payment of interest, are often called consols.
Such transactions normally include the payment of interest to the lender.
It eventually returned it, but without apology or the payment of interest for this unauthorised loan.
Financial markets are particularly concerned about the payment of interest on the federal debt.
Many home equity lines require only the payment of interest for the first 10 years.
Similar(1)
But non-payment of interest is technically a default.There is also a signalling problem.
More suggestions(17)
allowance of interest
payments of interest
payment of benefits
expenses of interest
be paid interest
interest payments
paying out interest
to pay interest
payment of staff
payment of overtime
payment of insurance
payment of tribute
sum of interest
payment of state
payment of unemployment
payment of cash
interest earned
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com