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Quick answer
"Ultimo" is a form of "ultimar", a transitive verb which is often translated as "to finalize". "Finalmente" is an adverb which is often translated as "finally". Learn more about the difference between "ultimo" and "finalmente" below.
A transitive verb is a verb that requires a direct object (e.g. I bought a book.).
1. (to conclude)
a. to finalize
Regionalism used in the United States
(United States)
Los obreros están ultimando el proyecto de refacción.The workers are finalizing the restoration project.
b. to finalise (United Kingdom)
El pintor se tomó un descanso antes de ultimar el mural.The painter took a break before finalising the mural.
c. to complete
Ya ultimamos los preparativos para el desfile.We've completed the arrangements for the parade.
d. to put the final touches to
Los actores están ultimando los detalles para la función de esta noche.The actors are putting the final touches to tonight's performance.
e. to put the finishing touches to
La compositora alemana está ultimando su nuevo disco.The German composer is putting the finishing touches to her new album.
2. (to slay)
Regionalism used in Latin America: all the countries in South America, Central America, and the Caribbean. Does not include Spain.
(Latin America)
a. to kill
La víctima le quitó la pistola al ladrón y lo ultimó.The victim took the robber's handgun and killed him.
b. to murder
No se pagó el rescate y los secuestradores ultimaron al rehén.The ransom was not paid and the kidnappers murdered the hostage.
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An adverb is a word that describes a verb, an adjective, or other adverbs (e.g. to run quickly, very tired).
1. (in the end)
a. finally
Después de años de trabajo arduo, finalmente terminaron su prototipo.After years of hard work, they finally finished their prototype.
b. in the end
Giselle dijo que no le gustaba el pescado, pero finalmente lo comió.Giselle said she didn't like fish, but in the end she ate it.
2. (in conclusion)
a. finally
Y finalmente, recuerden que tener el mejor producto no es suficiente para dominar el mercado.And finally, remember that having the best product is not enough to dominate the market.
b. lastly
Finalmente, permítanme desearles un feliz año nuevo.Lastly, let me wish you all a happy new year.
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