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Character position:

amortization

Length / number of characters: 12
Number of words: 1

  • the reduction of the value of an asset by prorating its cost over a period of years
  • payment of an obligation in a series of installments or transfers
  • The act or right of alienating lands to a corporation, which was considered formerly as transferring them to dead hands, or in mortmain
  • The extinction of a debt, usually by means of a sinking fund

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