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amortizar

to pay off

verb ah-mohr-tee-SAHR Rare

Also means

to amortize

Usage Note

Amortizar is the standard term in Spanish finance for paying off a debt or loan incrementally (amortizar una hipoteca) or for writing down the value of an asset over time. Under seseo pronunciation the z is pronounced as s. A tabla de amortización is an amortization schedule; a cuota de amortización is a repayment installment.

Examples

"Tardaron diez años en amortizar el préstamo."

Natural Translation

It took them ten years to pay off the loan.

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