Definition, Meaning & Synonyms
amortize
verb
/əˈmɔːr.tɪz/
Definition
To gradually reduce or pay off a debt over a period of time through regular payments.
Examples
- The company decided to amortize the loan over five years.
- By amortizing the cost of the asset, the business can manage its expenses better.
- She plans to amortize the mortgage through monthly payments.
Meaning
Amortizing a loan means paying it off step by step, instead of paying the whole amount at once.
Synonyms
- repay
- liquidate
- settle
- pay off
