An annuity is a stream of equal payments such as a mortgage, social security payments or a pension.

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An annuity is a financial product that pays out a fixed stream of payments to an individual, and these payments are often used as an income stream for retirees. Mortgages, social security payments, and pensions can all be considered forms of annuities, as they typically involve regular, equal payments over a period of time.

An Annuity Is a Stream of Equal Payments Such as a Mortgage