Webster's English Dictionary

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annuity

an.nu.ity \*-'n(y)u:-*t-e-\ n [ME annuite, fr. MF annuite`, fr. ML 
   annuitat-, annuitas)X, fr. L annuus yearly 1: an amount payable yearly or 
   at other regular intervals  2: the right to receive or the obligation to 
   pay an annuity