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: a sum of money payable yearly or at other regular intervals 2 : the right to receive an annuity 3 : a contract or agreement providing for the payment of an annuity  Did you know?This is a payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. Under an annuity certain, a specified number of payments are made, after which the annuity stops. With a contingent annuity, each payment depends on the continuance of a given status; for example, a life annuity continues only as long as the recipient survives. Contingent annuities depend on shared risk. Everyone pays in until the annuity begins; some will live long enough to collect more than they have paid, while others will not live long enough to get back the money they invested. SynonymsExample SentencesPart of her retirement income will come from an annuity. his grandfather's will provided him with an annuity of $5,000 a year to be used for school expenses Recent Examples on the Web But almost no winners take the annuity, instead opting for cash. Fortune, 7 Nov. 2022 However, a Powerball winner paying close attention to the Fed’s interest rate moves may find the annuity option worth considering, economists said. Imani Moise, WSJ, 7 Nov. 2022 Deciding whether to take the annuity or lump sum is often presented as a fun personal-finance question (lump sum). Zachary M. Seward, Quartz, 4 Nov. 2022 An annuity option would spread 30 payments across 29 years. Travis Caldwell, CNN, 3 Nov. 2022 Although the focus of the game is on the $1.2 billion prize — that is the amount for an annuity, doled out over 29 annual payments — nearly all winners choose a cash prize, which would be $596.7 million. CBS News, 2 Nov. 2022 This type of annuity combines the features of insurance products and securities. Laxmi Corp, The Salt Lake Tribune, 5 Oct. 2022 Hartzell collected his prize at the lottery headquarters in Raleigh on Monday and decided to take a lump sum of $600,000 instead of an annuity of $50,000 over 20 years. Elizabeth Pritchett, Fox News, 24 Sep. 2022 The deferred annuity case provides more spendable funds but less estate value. Jack Guttentag, Forbes, 12 Aug. 2022 See More These example sentences are selected automatically from various online news sources to reflect current usage of the word 'annuity.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback. Word HistoryEtymology Middle English annuite, from Anglo-French annuité, from Medieval Latin annuitat-, annuitas, from Latin annuus yearly First Known Use 15th century, in the meaning defined at sense 1 Time Traveler The first known use of annuity was in the 15th century Dictionary Entries Near annuityCite this Entry“Annuity.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/annuity. Accessed 25 Nov. 2022. ShareMore from Merriam-Webster on annuityLast Updated: 22 Nov 2022 - Updated example sentences Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! Merriam-Webster unabridged What is referred to as fixed sum of money paid to someone at regular intervals?Annuity. A fixed sum or money paid to someone at regular intervals, subject to a fixed compound interest rate.
Which of the following refers to the fixed sum of money paid to?A salary (or wage) is a fixed amount paid in exchange for an employee's services.
What type of annuity is illustrated when the interest conversion and compounding period is equal?An ordinary simple annuity has the following characteristics: Payments are made at the end of the payment intervals, and the payment and compounding frequencies are equal. The first payment occurs one interval after the beginning of the annuity.
What is general annuity in general mathematics?A general annuity is an annuity where the payments do not coincide with the interest periods. You will be able to see that it is very easy to deal with general annuities once an equivalent interest rate is determined with that equivalent rate being compounded as often as the payments are made.
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What is referred to as a fixed sum of money paid to someone at regular intervals subject to?
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