Is it permissible to sell in installments with an increase in price?

It is permissible to sell and buy on credit with an increase in the price from the current price, provided that the considered conditions of sale are met: the agreement of both parties on the method of payment before the contract, that the item is permissible and owned by the seller or his agent, and that the installments and the term are known. The permissibility of this is evidenced by the Qur'an, the Sunnah, and the practice of Muslims both in the past and present.