Etymology
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annuity (n.)

early 15c., "a yearly allowance, grant payable in annual installments," from Anglo-French and Old French annuité "annuity" (14c.) or directly from Medieval Latin annuitatem (nominative annuitas), from Latin annus "year" (see annual (adj.)). Meaning "an investment that entitles one to equal annual payments" is from 1690s.

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Definitions of annuity

annuity (n.)
income from capital investment paid in a series of regular payments;
his retirement fund was set up to be paid as an annuity
Synonyms: rente
From wordnet.princeton.edu