Definitions

1. verb

to gradually recover or repay money, costs, or expenses, often over a period of time

“The company amortized the loan over the next five years.”

2. noun

a charge or payment made to recover or repay expenses, costs, or losses over a period of time

“The amortization of the assets was taken into account when calculating the company’s profit.”

3. noun

a periodic charge or payment made to recover or repay expenses, costs, or losses, often relating to a loan or mortgage

“The amortization of the mortgage is $500 per month.”