Amortization - definition, pronunciation, transcription

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Amer.  |ˌæmərtəˈzeɪʃən|  American pronunciation of the word amortization
Brit.  |əˌmɔːtæɪˈzeɪʃən|  British pronunciation of the word amortization

noun

- the reduction of the value of an asset by prorating its cost over a period of years
- payment of an obligation in a series of installments or transfers

Extra examples

Loan amortization shows you how interest and principal are paid off.

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