amortise etymology

Etymology:

• French: amortir, meaning "to deaden, damp down" (verb)
• Latin: amortire, meaning "to cause to die down, to extinguish" (verb)
• Ad- (towards) + mŏri (to die)

Meaning:

• To gradually pay off a debt or loan by making regular payments.
• To reduce the value of an asset over time by allocating its cost to expenses.
• To gradually diminish or weaken something, especially over a period of time.

Origin:

The term "amortise" originates from the financial practices of the Middle Ages. During this period, the practice of "mortmain" (main morte, meaning "dead hand") was common. Mortmain laws prohibited certain individuals or entities, such as the church, from acquiring real estate.

To circumvent these laws and acquire land, wealthy landowners would create a type of mortgage called an "amortization mortgage." Under this type of mortgage, the borrower would make regular payments to the lender until the debt was fully repaid. Over time, the term "amortise" came to be used to describe any method of gradually paying off a debt or loan.

In modern usage, "amortisation" has expanded to include the accounting practice of allocating the cost of an asset to expenses over time. It is also used in various other contexts, such as mathematics, physics, and linguistics.

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