Etymology
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penult (adj.)

"last but one," 1530s, abbreviation of penultima. As a noun from 1570s as "last day but one of a month;" grammatical sense of "last syllable but one of a word" is by 1828.

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Definitions of penult

penult (n.)
the next to last syllable in a word;
Synonyms: penultima / penultimate
From wordnet.princeton.edu