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amortization

Pronunciation: [ˌæmɔːrtɪˈzeɪʃən]

Word

Learn how to use amortization in a sentence: 6 audio examples across 2 meanings.

Context: “finance”

(noun) the process of paying off a debt over a period of time through regular payments. It's like when you borrow money for a house and you pay it back bit by bit every month until it's all paid off.

Example

The bank offers a plan for the amortization of the loan over 15 years.

Example

Without an amortization plan, the debt would be very hard to manage.

Example

What is the schedule for the amortization of your mortgage?

Context: “accounting”

(noun) the gradual reduction of an asset's value or cost over time. This happens with things like buildings or equipment, where you pay less in value for them each year.

Example

The amortization of the equipment was calculated to help the business understand its costs.

Example

If we don’t consider the amortization, we won't know the true cost of the asset.

Example

How does the amortization affect the overall financial statement?

How to pronounce amortization

Pronunciation: [ˌæmɔːrtɪˈzeɪʃən]

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