Amortize GRE Vocabulary Flashcard

Amortize GRE Vocabulary Flashcard /əˈmɔː.taɪz/ (verb) Definition to reduce a debt by installments or paying small amounts of money regularly, pay off with regular payments, diminish by installment payments, redeem in small amounts and gradually, repay, remunerate, pay off, pay back Example An amortizing loan is a type of debt that requires regular monthly payments. Each month, a portion of the payment goes toward the loan’s principal and part of it goes toward interest. Also known as an installment loan, fully amortized loans have equal monthly payments. Partially amortized loans also have payment installments, but either at the beginning or ...