Amortization



an act or instance of a debt or other obligation.
the sums devoted to this purpose.
Historical Examples

No effort is made to levy tolls that will provide for interest charges, or for the amortization of the principal.
The Panama Canal Frederic Jennings Haskin

This amortization of the Republic’s debt for these improvements has been going steadily forward.
The Panama Canal Frederic Jennings Haskin

Surplus revenues enabled the amortization of its debt; and by 1852 the revenue exceeded three million dollars annually.
Railroads: Rates and Regulations William Z. Ripley

“‘amortization’ is the word, Colonel,” was Smith’s prompt verdict after he had gone over Martin’s summaries.
The Real Man Francis Lynde

noun

the process of amortizing a debt
the money devoted to amortizing a debt

(in computing the redemption yield on a bond purchased at a premium) the amount that is subtracted from the annual yield Compare accumulation (sense 3b)
n.

1670s, in reference to lands given to religious orders, from Medieval Latin amortizationem (nominative amortizatio), noun of action from past participle stem of amortizare (see amortize). Of debts, from 1824.
amortization [(am-uhr-tuh-zay-shuhn, uh-mawr-tuh-zay-shuhn)]

A term that refers either to the gradual paying off of a debt in regular installments over a period of time or to the depreciation of the “book value” (that is, the standard assessed value) of an asset over a period of time.

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