Amort is a term that is commonly used in the financial world. It is a word that is often associated with loans and mortgages. However, many people are not familiar with the meaning of this term. In this article, we will explore the definition and meaning of amort, as well as its origin, associations, synonyms, and antonyms.
Definitions
Amort is a financial term that refers to the process of paying off a debt over a period of time. This process involves making regular payments that include both principal and interest. The term is often used in the context of loans, mortgages, and other types of financial agreements.
Origin
The word amort comes from the Old French word amortir, which means “to kill” or “to deaden.” This term was originally used in the context of extinguishing a debt or reducing its value over time. The word was later adopted into English and has since become a common term in the financial industry.
Meaning in different dictionaries
According to the Merriam-Webster dictionary, the term amort means “to pay off (an obligation, such as a mortgage) gradually, usually by periodic payments of principal and interest or by payments to a sinking fund.” The Oxford English Dictionary defines it as “to reduce or extinguish (a debt) by means of a sinking fund or by annual payments of principal and interest.”
Associations
Amort is often associated with loans and mortgages, as these are the most common types of financial agreements that involve regular payments over time. It is also associated with the concept of depreciation, which refers to the gradual reduction in value of an asset over time.
Synonyms
Some synonyms of amort include pay off, settle, clear, liquidate, and retire.
Antonyms
Some antonyms of amort include borrow, lend, owe, and invest.
The same root words
Some other words that have the same root as amort include amortization, amortize, and amortizable.
Example Sentences
- “I have been making regular payments on my mortgage for the past 10 years, and I am almost done amortizing the loan.”
- “The company decided to amortize the cost of the new equipment over a period of 5 years.”
- “The accountant recommended setting up a sinking fund to help amortize the debt over time.”