Per annum definitions
| Word backwards | rep munna |
|---|---|
| Part of speech | Per annum is an adverbial phrase. |
| Syllabic division | per an-num |
| Plural | The plural form of "per annum" is "per annum." |
| Total letters | 8 |
| Vogais (3) | e,a,u |
| Consonants (4) | p,r,n,m |
Per annum is a Latin term that translates to "per year." It is commonly used in financial contexts to indicate an amount that is calculated or paid on an annual basis. This term is often seen in interest rates, salaries, rental agreements, and other financial agreements that involve yearly calculations.
Calculation of Interest Rates Per Annum
When discussing interest rates, the term "per annum" indicates the rate of interest that will be applied to a loan or investment over the course of a year. For example, if you have a loan with an interest rate of 5% per annum, this means that 5% of the loan amount will be charged as interest over a one-year period.
Salaries and Wages Per Annum
When negotiating a salary or wage for a job, the term "per annum" is often used to indicate the yearly amount that an employee will be paid. For instance, if a job posting states a salary of $50,000 per annum, this means that the employee will receive $50,000 over the course of a year.
Rental Agreements Per Annum
In rental agreements, "per annum" is used to specify the yearly rent that a tenant must pay to the landlord. For example, if an apartment has a monthly rent of $1,000, the landlord might state that the rent is $12,000 per annum, indicating that the annual rent amounts to $12,000.
Overall, the term "per annum" is a useful way to clearly communicate annual amounts in various financial contexts, providing clarity and transparency in calculations and agreements.
Per annum Examples
- The interest on the loan is calculated at 5% per annum.
- The company reported a profit of $1 million per annum.
- The rent for the apartment is $12,000 per annum.
- The employee is entitled to 14 days of paid leave per annum.
- The scholarship provides $10,000 per annum to cover tuition fees.
- The charity aims to feed 1,000 families per annum.
- The government sets a target of creating 100,000 jobs per annum.
- The average rainfall in the region is 800mm per annum.
- The subscription fee for the service is $120 per annum.
- The insurance policy covers up to $50,000 per annum for medical expenses.