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Definition of amortization


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am·or·ti·za·tion  audio  (mr-t-zshn, -môr-) KEY 

NOUN:
    1. The act or process of amortizing.
    2. The money set aside for this purpose.
  1. In reckoning the yield of a bond bought at a premium, the periodic subtraction from its current yield of a proportionate share of the premium between the purchase date and the maturity date.



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