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Definition: "Amortize" in English is a term that refers to "to make an expense or cost of a project or activity into a smaller, less visible part of the total." The concept was used by John Quincy Adams in his 1802 letter to King George III, arguing for the abolition of slavery.
Definition: Amortized means to pay off an expense over several years. This concept describes how some expenses are amortized over a period, meaning they're paid back or reduced in value by the time the interest rate on those debts peaks and falls.
Definition: Amortises are a type of insurance that reimburses losses incurred by the insurer to its policyholder or insured person when the insured fails to make payments. It's used in many sectors including health, property, and life insurance. The term comes from Greek roots meaning "to reduce" or "to lessen."