1. The process of paying off a debt gradually through regular installment payments over a fixed period.
Usage: Usually used in finance and accounting contexts; Plural form of amortization
2. The allocation of the cost of an intangible asset over its useful life in accounting.
Usage: Accounting and finance term; Similar to depreciation but applied to intangible assets

Examples

• The bank provided several amortizations options for the mortgage.
• Different amortizations schedules can significantly affect the total interest paid.
• The company's amortizations of patents are recorded in the financial statements.
• We compared 15-year and 30-year amortizations to find the best loan option.
• Software licenses require amortizations over their expected useful life.
• The accountant calculated the amortizations for all intangible assets.
• Longer amortizations result in lower monthly payments but higher total interest.