A portion of a debt, or sum of money, which is divided into portions that are made payable at different times. Payment by installment is payment by parts at different times, the amounts and times being often definitely stipulated.
By working hard we could make an average of about $5 a week. We would have made more but had to provide our own machines, which cost us $45, we paying for them on the installment plan. We paid $5 down and $1 a month after that. Rose Schneiderman