amortize — to gradually pay off a debt through regular payments of principal and interest
Part of speech: VERB
Definition: to gradually pay off a debt through regular payments of principal and interest
Pronunciation (IPA): /ˈæmərˌtaɪz/
Korean meaning: 원금과 이자를 정기적으로 분할 상환하다
Korean pronunciation: **애**머타이즈
Example Sentences
- My friend tried to amortize his student loan, but ended up just buying more textbooks he'll never read.
- The startup decided to amortize their office ping-pong table over 10 years, calling it 'employee productivity equipment.'
- Banks typically amortize commercial loans over periods ranging from 5 to 25 years.
amortize
VERB//ˈæmərˌtaɪz//
to gradually pay off a debt through regular payments of principal and interest
a middle-aged person writes out a monthly mortgage check while their spouse looks over payment schedules spread across the desk. The payment documents show a decreasing balance with each monthly entry marked off. Stack by stack, the debt pile gets smaller while the "paid" pile grows larger on the opposite side. A calculator displays the current remaining balance as they mark another payment complete. Their teenage daughter watches from behind, learning about responsible debt management. debt being gradually paid off through regular payments of principal and interest over time
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🌳Etymology
Origin
From Medieval Latin 'amortizare,' meaning 'to kill' or 'to extinguish.' Originally referred to transferring land to the church, effectively 'killing' individual ownership, but evolved to mean gradually 'killing off' debt through regular payments.
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“My friend tried to amortize his student loan, but ended up just buying more textbooks he'll never read.”
“The startup decided to amortize their office ping-pong table over 10 years, calling it 'employee productivity equipment.'”
“Banks typically amortize commercial loans over periods ranging from 5 to 25 years.”
“The accounting firm advised us to amortize the patent costs over its 15-year legal life.”
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