What Does Per Annum Mean?


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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1. Multiply the principal of the loan by the interest rate. For example, if you owe $15,000 on a loan with an 8.5 percent interest rate, you multiply 15,000 by .085. Your result is
(pər ăn'əm) adv. By the year; annually: a magazine subscription of 40 dollars per annum. [Latin : per, per + annum, accusative of annus, year.]
The same as 2% per year. Per annum means per year.
per annum: by the year
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Ask.com Answer for: what does per annum mean
per an·num
[per an-uhm]
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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