What does the term "amortization" refer to?

Amortization refers to the process of gradually repaying a loan over time through a series of scheduled payments. Each payment typically includes both principal and interest components, allowing the borrower to reduce their outstanding balance gradually until the loan is fully paid off at maturity. This systematic approach helps borrowers manage their debt more effectively and provides lenders with a clear repayment schedule.

The other terms listed refer to different financial concepts. The total value of an investment at maturity relates more to issues like bonds or investments maturing at a particular date. Interest accrued on a savings account is the earnings generated from deposited funds, reflecting a different aspect of financial management. The amount of equity owned in a property refers to the difference between the property's market value and the outstanding mortgage, which is a measure of ownership rather than a repayment process.