amortization
/əˌmɔrtəˈzeɪʃən/
noun
- The process of gradually paying off a debt over time through regular payments.
- The amortization of the mortgage will take thirty years.
- They set up an amortization schedule to track their loan payments.
- Understanding amortization helps borrowers plan their finances.
- The gradual reduction of the value of an intangible asset over its useful life.
- Amortization of software costs is a common accounting practice.
- The company recorded the amortization of its trademark each year.
- The accountant calculated the annual amortization for the patent.
Synonyms
Antonyms