Definition: Calculator payday, also called calculator prepayment or prepay, is a term referring to an action in which one pays money past due with a calculator, usually for the purpose of paying off debt. The act involves taking out a loan that was due but not paid. In this situation, one uses a calculator to set the interest rate and time period. By doing so, they can pay off their debt faster without having to make another payment. Some people may also use calculators or other devices to set up automatic payments for bills, such as rent, utilities, and car payments. These types of calculations are typically done manually but can be automated through a calculator or computer program. It's important to note that while some people use calculators to pay off debt, others may not have the financial resources to afford to do so. Therefore, it's always better to budget properly and avoid taking out new debts if you don't need them in the future.
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