What Does Per Annum Mean?

Answer

The term per annum is used in the English language as an adverb to mean every year or by the year. This term is mostly used in banking in reference to a sum of money paid or received.
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Ask.com Answer for: what does per annum mean
per an·num
[per an-uhm]
NOUN
1.
by the year; yearly.
Source: Dictionary.com
Per annum means annually or by the year. This term is mainly used in reference to a sum of money received or paid. It is also used in finance when referring to the amount produced or sold each year.
Per annum is Latin for by the year. It can be used in a sentence as follows. The loan accumulated interest at a rate of three percent per annum.
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