verb to gradually reduce or write off the cost or value of an asset over a period of time
In real estate, 'amortize' is often used in the context of mortgage loans, where borrowers make regular payments to gradually reduce the loan balance.
In finance, the term 'amortize' refers to the process of paying off a debt over time through regular payments that cover both principal and interest.
In business, 'amortize' can be used to describe the gradual reduction of a liability or the spreading out of an expense over time.
In economics, 'amortize' may be used to discuss the gradual repayment of a loan or the depreciation of an asset over time.
In accounting, 'amortize' is used to describe the allocation of the cost of an intangible asset over its useful life.
In finance writing, a writer may use the term 'amortize' when discussing the process of gradually paying off a debt over time through regular payments.
A psychologist may use the term 'amortize' when working with clients to help them understand and manage their long-term financial obligations and budgeting strategies.
An accountant may use the term 'amortize' when preparing financial statements and calculating the allocation of expenses or the depreciation of assets over time.
A real estate agent may use the term 'amortize' when explaining mortgage payment structures to clients and helping them understand how payments are applied to principal and interest over the life of the loan.