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annuity Definition

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annuity
noun(an-nu-i-ty)
a sum of money payable yearly or at other regular intervals
annuity
noun(an-nu-i-ty)
the right to receive an annuity
annuity
noun(an-nu-i-ty)
a contract or agreement providing for the payment of an annuity
annuity
noun(an-nu-i-ty)
a mortgage that allows an elderly person to convert home equity into available funds through a line of credit, cash advance, or periodic disbursements to be repaid with interest usually when the borrower dies, moves, or sells the home

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