#annuity

• Annuality — A fundamental budgetary and legal principle according to which public revenues and expenditures, administrative acts, or financial contracts are authorized, executed, and evaluated for a strict period of one year; a sum of money paid periodically, at one-year intervals, to settle a debt or under an annuity contract.
• Annuity — A sum of money paid periodically, usually at equal intervals of a year or a month, representing the repayment of a portion of a borrowed capital and its accrued interest; a constant or variable installment paid for the gradual liquidation of a debt or the establishment of an annuity.