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re·demp·tion

redemption

pronunciation:
rih demp shn
part of speech: noun
definition 1: the act of redeeming or the state of being redeemed.
similar words:
grace, salvation
definition 2: a repossession or repurchase, as of something pawned, mortgaged, or pledged against a debt.
definition 3: a release or rescue, as from bondage or sin.
similar words:
salvation
definition 4: the payment or fulfillment of an obligation or pledge.
definition 5: the exchange or conversion, as of coupons for goods or securities into cash.
derivation: redemptional (adj.)