finance

Annuitant is an investor or a pension plan beneficiary who is entitled to receive the regular payments of a pension or an annuity. 

• insurance
• life insurance

An appraisal is the process by which the value of an item or property is determined. This is necessary in a variety of contexts.

To appraise is to determine the value of an object or piece of property. This is done by an expert called an appraiser, the result of this action called an appraisal.

An appraiser is an expert hired to examine an object or piece of property to determine its value. This determination is called an appraisal, and is commonly required for the purchase, sale, or refinancing of real estate or to gain insurance on property or make a claim if insured property is lost or stolen.

To appreciate means to increase in value (the opposite of depreciate). It may also mean: to understand or recognize the value or significance of something or someone.

See also: appreciation.

[Last reviewed in June of 2021 by the Wex Definitions Team]

Appreciation is an increase in an asset’s value, usually due to inflation or other external economic factors (the opposite of depreciation). 

In more common parlance, appreciation may also be recognition or understanding of the value or significance of a person or thing. 

[Last reviewed in June of 2021 by the Wex Definitions Team]

An annual percentage rate (APR) is the yearly rate charged for a loan or earned by an investment. In other words, it is a measure of the cost of credit, expressed as a yearly rate. APR includes interest as well as other fees associated with the transaction. It is calculated by multiplying the interest rate per payment period by the number of such payment periods in a year.

ARM stands for ‘adjustable-rate mortgage,' which is a type of home loan that has a fixed interest rate for an initial period of time then after a certain point, the rate changes, which means it is no longer a fixed interest rate but rather the interest fluctuates during the life of the loan, based on the change or move

Arrearages broadly refer to being in arrears or owing a debt. There are two main uses of the term. One refers to payments in arrears that are meant to occur after they are owed, such as wages paid a week after time is entered or for invoices. Arrearage can also mean a person or business behind on paying bills, debts, or other obligations.