Amortization

n. depreciation; decrease; gradual payment of debt

Amortization or amortisation is the process of decreasing or accounting for an amount over a period of time. Particular instances of the term include:Amortization (business), the allocation of a lump sum amount to different time periods, particularly for loans and other forms of finance, including related interest or other finance charges.Amortization schedule, a table detailing each periodic payment on a loan (typically a mortgage), as generated by an amortization calculator.Negative amortization, an amortization schedule where the loan amount actually increases through not paying the full interestAmortized analysis, analyzing the execution cost of algorithms over a sequence of operations.Amortization of capital expenditures of certain assets under accounting rules, particularly intangible assets, in a manner analogous to depreciation. Amortization is also used in the context of zoning regulations and describes the time in which a property owner has to relocate when the property's use constitutes a preexisting nonconforming use under zoning regulations.
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Noun
1. the reduction of the value of an asset by prorating its cost over a period of years
(synonym) amortisation
(hypernym) decrease, diminution, reduction, step-down
2. payment of an obligation in a series of installments or transfers
(synonym) amortisation
(hypernym) payment, defrayal, defrayment
(derivation) amortize, amortise

(n.)
The extinction of a debt, usually by means of a sinking fund; also, the money thus paid.
  

(n.)
The act or right of alienating lands to a corporation, which was considered formerly as transferring them to dead hands, or in mortmain.
  

The repayment of a loan by installments.