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Annuity

//əˈn(j)uɪti// noun

Definitions

Noun
  1. 1
    A right to receive amounts of money regularly over a certain fixed period, in perpetuity, or, especially, over the remaining life or lives of one or more beneficiaries.
  2. 2
    income from capital investment paid in a series of regular payments wordnet

Etymology

From French annuité, from Medieval Latin annuitās, from Latin annuus (“annual”). Cf. annuality.

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