Annuity

Something that pays regular cash flows at fixed periods over a given period of time.

REMARKS
There are two basic types:
Ordinary Annuity - cash flows are made at the end of each period.
Annuity Due - cash flows are made at the start of each period.
a recurring periodic series of payments
an insuarance like contract providing monthly, quarterly, semi-annual or annual payments
an annuity that does not have a defined end is called a perpetuity
an annuity is a type of insurance policy that provides a regular income in exchange for a lump sum
an annuity is an investment that guarantees to pay you an income for the rest of your life, no matter how long you live
Refers to a series of fixed payments on explicit dates over a period of time
Examples include regular deposits, monthly mortgage payments

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