year's purchase

1 definition found

year's purchase - Collaborative International Dictionary of English v.0.48 :

  Year's purchase \Year's purchase\
     The amount that is yielded by the annual income of property;
     -- used in expressing the value of a thing in the number of
     years required for its income to yield its purchase price, in
     reckoning the amount to be paid for annuities, etc.
     [Webster 1913 Suppl.]