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What does it mean to get a lump sum payout?
To get a lump sum payout typically involves foregoing monthly installment payments in lieu of a one time lump sum. Many people who win the lottery prefer to have a lump sum taken instead of monthly checks. Although it should be noted the lump sum is less money than if you were to add up all monthly payments, in the long run.
What does the word sum mean in maths?
The term "sum" implies the answer to addition.Example: What is the sum of 10 and 14? The sum is 24.10 + 14 = 24
In math does the word sum mean?
The term "sum" implies the answer to addition.Example: What is the sum of 10 and 14?10 + 14 = 24
What does lump sum means?
It is an amount that is paid at one time (in one big lump) rather than over a number of time periods.
How can one perform lump sum payments?
Many contracts will offer different payment offers such as a large amount of money that can be deposited at the beginning or smaller payments that are distributed over time which usually cost more than lump sum payments.
