"Per annum" (abbreviated as "p.a.") is a Latin term commonly used in financial and business contexts. It translates to "per year" in English and is used to indicate the frequency or rate of an event or activity that occurs on an annual basis.
Examples in Sentences
Here are three example sentences:
The interest rate on the mortgage is 4% per annum, which means it accrues annually.
The company aims to increase its sales by 10% per annum to achieve sustainable growth.
The employee is entitled to 20 days of paid vacation per annum, which can be taken throughout the year.