Definition

To pay off a debt gradually through regular payments, or to spread the cost of an expense over a period of time.

Example

The company decided to amortize the loan over five years to manage their finances better.

Tense Forms

Conversation

Have you ever thought about how to amortize a loan effectively?

Yeah, I read that it helps in managing monthly payments better.

Exactly! It makes it easier to budget when you amortize over time.

For sure, I should look into that for my car loan.

Synonyms & Antonyms

Root Explanation

Amortize is formed from "a-" (meaning to) and "mort" (from Latin "mors", meaning death) and the suffix "-ize" (meaning to make). The word originally referred to the act of putting an end to or extinguishing a debt, akin to 'putting to death' the obligation.

Memory Tip

Think of 'putting to death' a debt ('mort') when you 'make' it disappear ('-ize'). This helps you remember that amortize means to gradually reduce or eliminate a debt.

Visually Confused Words