Amortize
/əˈmɔːr.tɪz/noun
To gradually reduce or extinguish a debt through regular payments.
Did you know?The concept of amortization has roots in medieval Latin, where it was linked to the idea of 'deadening' or 'killing' an obligation, reflecting a powerful transformation of debt into freedom.
Etymological Timeline
Latin
Latin
amortizare
“to kill off, to deaden”
Medieval Latin
Medieval Latin
amortizāre
“to extinguish (a debt), to lessen”
Old French
Old French
amortir
“to deaden, to bring to death”
15th Century
English
amortiz
“to kill or destroy, particularly in a financial context”
Modern English
English
amortize
“to reduce a debt through regular payments”