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amortize

play
verb am·or·tize \ˈa-mər-ˌtīz also ə-ˈmȯr-\

Simple Definition of amortize

  • business : to pay money that is owed for something (such as a mortgage) by making regular payments over a long period of time

Full Definition of amortize

am·or·tizedam·or·tiz·ing

  1. transitive verb
  2. 1 :  to pay off (as a mortgage) gradually usually by periodic payments of principal and interest or by payments to a sinking fund

  3. 2 :  to gradually reduce or write off the cost or value of (as an asset) <amortize goodwill> <amortize machinery>

am·or·tiz·ableplay \-ˌtī-zə-bəl\ adjective

Origin of amortize

Middle English amortisen to kill, alienate in mortmain, from Anglo-French amorteser, alteration of amortir, from Vulgar Latin *admortire to kill, from Latin ad- + mort-, mors death — more at murder


First Known Use: 1867



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