What does "per annum" mean?

Annum is a Latin word that means "year". It is often used in legal and financial contexts to refer to a period of one year. For example, an annuity is a financial product that pays out a fixed amount of money each year for a specified number of years.

In the phrase "per annum", which is commonly used in business and finance, per refers to "each" and annum refers to "year". So, per annum means "each year". For example, if a company's revenue is $100,000 per annum, it means that the company earns $100,000 each year.

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