Correct Answer: Lump sum

Solution : The correct choice is the third option.

Lump sum refers to an amount of money paid all at once, in a single, large payment rather than in instalments. It's often used in contexts like receiving a salary or settling a debt in full.

The meanings of the other options are as follows:

• The advanced amount doesn't specifically denote a one-time payment; it generally refers to an amount of money paid or given before it is due or before it is earned. This could be an advance payment for services or goods.
• Credit typically refers to an arrangement where goods, services, or money are received with the understanding that payment will be made later. It doesn't necessarily imply a one-time payment.
• A mortgage is a type of loan used to purchase real estate where payments are made over time, usually monthly, and doesn't represent a single payment but a series of payments over an extended period.