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annuity

annuity [ uh-NOO-i-tee, uh-NYOO-i-tee ]
 noun ]
 MEANING :
 1. the annual payment of an allowance
2. a contract by which one receives fixed payments on an investment for a lifetime
 USAGE EXAMPLE 1 :
 They assured him that after he retired he would receive an annuity for the rest of his natural life.
 

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