amortize a loan

The Spanish phrase 'amortizar un préstamo' translates to 'amortize a loan' in English. This term refers to the process of gradually reducing a loan debt over a specified period of time through regular payments. Each payment goes towards a part of the principal amount and interest on the loan. Over time, the total debt decreases until it is eventually paid off in full.

Example sentences using: amortizar un préstamo

Es importante amortizar un préstamo lo más rápido posible para reducir los intereses.

It is important to pay off a loan as quickly as possible to reduce interest.

This phrase emphasizes the advantage of paying off a loan quickly to save money on interest payments.

Decidí amortizar un préstamo mediante pagos mensuales durante cinco años.

I decided to pay off a loan through monthly payments over five years.

This phrase illustrates a personal decision to manage a loan by spreading the repayments over a set period.

Antes de solicitar otro crédito, necesito amortizar un préstamo existente.

Before applying for another credit, I need to pay off an existing loan.

This phrase discusses the necessity of settling an existing loan before taking on new credit obligations.