Definition, Meaning & Synonyms
amort
verb
/əˈmɔrt/
Definition
To gradually reduce or eliminate a financial obligation or debt, typically through regular payments.
Examples
- To amort the loan, she made monthly payments over five years.
- The company decided to amort its expenses over several accounting periods.
- Amortizing the mortgage helped them manage their budget better.
Meaning
Amort refers to the process of spreading out a loan into a series of fixed payments over time until the debt is fully paid off.
Synonyms
- Repay
- Liquidate
- Discharge
