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Synonyms for

Amortization

Noun / ˌæmɜ:tɪˈzeɪʃʌn / Another word for amortization — explore alternatives below. For syllable breakdowns and pronunciation, see this word on Syllablesworld.

Definition

Amortization is the process of gradually paying off a debt or loan through regular payments over a set period of time, usually with interest.

Synonyms & similar words

amortisation repayment payback settlement clearing liquidation discharge retirement satisfaction remission defrayal redemption quittance reimbursement indemnification compensation remuneration restitution recompense recoupment restoration

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Example sentences

  1. The bank offered a 20-year amortization schedule for the mortgage.
  2. The company used amortization to pay off its debt over five years.
  3. Amortization helped me pay off my student loans over time.
  4. The car loan's amortization period was two years.
  5. The amortization of the loan made it affordable for me to buy a house.

Quotes

  • Amortization is a weapon brought down upon the heads of the poor and middle classes in America.
  • Amortization is a way of spreading the cost of an asset over its useful life.
  • Amortization is the magic word that takes the pain out of paying for things.

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