Noun: amortization ,a-mur-tu'zey-shun [N. Amer], ,a-mu(r)-tI'zey-shun [Brit]
- Payment of an obligation in a series of installments or transfers
"The amortization schedule showed monthly payments over 30 years";
- amortisation [Brit]
- The reduction of the value of an asset by prorating its cost over a period of years
"The amortization of the building's cost was spread over 40 years";
- amortisation [Brit]
Derived forms: amortizations
Type of: decrease, defrayal, defrayment, diminution, payment, reduction, step-down
Encyclopedia: Amortization