amortize
/ˈæmərˌtaɪz/
verb
- To gradually pay off a debt over a period of time through regular payments.
- The business amortized its bank loan with quarterly installments.
- We plan to amortize the loan over fifteen years.
- He amortized his student debt by making monthly payments.
- To gradually write off the initial cost of an asset over its useful life.
- They amortized the development expenses over the product's expected lifespan.
- The company will amortize the cost of the new building over twenty years.
- Accountants amortize intangible assets like copyrights and patents.