annuity in arrears

annuity in arrears definition - finance
An annuity whose first payment occurs at the end of the year rather than at the beginning. Annuity in arrears also may be used to refer to periodic payments that must be made by the annuitant that falls behind schedule.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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