| 单词 | ANNUITY |
| 释义 | An investment contract, generally purchased from an INSURER through single or multiple taxdeferred CAPITAL contributions, that guarantees fixed or variable payments to an ANNUITANT starting at some future date, and lasting for a stated period of time. The PRESENT VALUE of an annuity is given as: where CF is the stated cash flow, r is the DISCOUNT RATE, and t is the time until maturity. See also PERPETUITY. |
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