annuity

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an·nu·i·ty / əˈn(y)oōitē/ • n. (pl. -ties) a fixed sum of money paid to someone each year, typically for the rest of their life: he left her an annuity of $1,000 in his will. ∎  a form of insurance or investment entitling the investor to a series of annual sums: [as adj.] an annuity plan.

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