amortize

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amortize

[′am·ər‚tīz]
(industrial engineering)
To reduce gradually an obligation, such as a mortgage, by periodically paying a part of the principal as well as the interest.
References in periodicals archive ?
The five-year refinance loan amortizes on a 30-year schedule.
The 10year refinance loan amortizes on a 30-year schedule.
This 10-year refinance loan amortizes on a 30-year schedule.
Tranche A totals US$270 million and amortizes in years 2004-2007.