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PER ANNUM Definition & Usage Examples

what does per annum mean

Over 1.8 million professionals use CFI to learn accounting, financial analysis, modeling and more. Start with a free account to explore 20+ always-free courses and hundreds of finance templates and cheat sheets. These examples are programmatically compiled from various online sources to illustrate current usage of the word ‘per annum.’ Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. To compute the rate per annum we restate the amounts by multiplying both the “2%” and the “20 days” by 18 (in order to get close to the 365 days in a year).

what does per annum mean

For the past 52 years, Harold Averkamp (CPA, MBA) has worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com. Stack Exchange network consists of 183 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers. Gain unlimited access to more than 250 productivity Templates, CFI’s full course catalog and accredited Certification Programs, hundreds of resources, expert reviews and support, the chance to work with real-world finance and research tools, and more. An example involves a supplier offering a credit customer an early-payment discount of 2% for paying an invoice in 10 days instead of paying the full amount in 30 days. In this example the supplier is giving up 2% of the invoice amount in order to be paid 20 days early.

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Its meaning in English has not really diverged at all, so it is basically just a snooty (or jargonistic) way to say year. Fewer people know the word, so it is probably a how to take advantage of student loan interest deduction good word to use if you are trying to bury the truth of something under a blanket of obscure verbiage. Per annum is used in financial contexts to mean for each year.

what does per annum mean

As kiamlaluno says, per annum is traditionally used more in financial contexts than per year, but these sentences show that per year is also perfectly acceptable. Upgrading to a paid membership gives you access to our extensive collection https://www.quick-bookkeeping.net/unadjusted-trial-balance-example-purpose/ of plug-and-play Templates designed to power your performance—as well as CFI’s full course catalog and accredited Certification Programs. Take your learning and productivity to the next level with our Premium Templates.

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