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Definition to reduce gradually — usually a debt or the cost of an asset
  • Most home loans are paid over 30 years, but the lender also offers an option to amortize mortgages over 15 years. The payments are lower on the 30-year loan, but less interest is paid on the 15-year loan and if you don't refinance, it's paid off twice as fast.
  • The loan is amortized over 10 years.
  • amortized = to reduce gradually — usually a debt or the cost of an asset
  • It dispensed with all those bothersome little acts of daily courage; it offered hope and grace to the repetitive coward; it justified the past while amortizing the future.
    Tim O'Brien  --  The Things They Carried
  • amortizing = reducing gradually
  • Although he paid for the computer this year, the IRS requires him to amortize the expense over five years.
  • We won't get to amortize the hard efforts we've put in so far.
    Randy Pausch  --  The Last Lecture
  • I'll admit, my shareholders screamed about amortizing the plants over fifty years.
    John Ringo  --  Live Free or Die
  • In conference with the salesman, it was agreed that she would pay three dollars down and three dollars a month until the cost was amortized.
    Russell Baker  --  Growing Up

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