ChatGRE Word of the Day: Annuity (n)
Annuity (adj)
Annual is the word used for yearly basis. So annuity is yearly allowance.
Meaning:
A specified income payable at stated intervals for a fixed or a contingent period, often for the recipient’s life, in consideration of a stipulated premium paid either in prior installment payments or in a single payment.
Popularity: 11% [?]
Written by GRE Word of The Day Team on April 5th, 2008 with no comments.
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