Per annum is Latin for each year.. If the interest is non-compounding, the same amount of interest will accrue each year. For example, if a borrower takes out a $100 loan at 5 percent interest per annum and takes five years to repay the loan, the interest due at the end of those five years will be $25.
http://smallbusiness.chron.com/loan-interest-rate-payable-per-annum-25907.html
What does per annum mean? Per annum means yearly or annually. For example, if a business charges its customers 1.5% per month on any unpaid balance, the per annum rate is 18%. The per annum rate was the result of 1.5% X 12 months in a year.
https://www.accountingcoach.com/blog/what-does-per-annum-mean
per annum. Latin for, for each year, annually. Use 'per annum' in a Sentence. You may get a bonus per annum that depends on how well your business did that year and what your bottom line was. There would be a small fee per annum, but that was nothing we could not handle and we were ready to buy.
http://www.businessdictionary.com/definition/per-annum.html
In post-classical Latin (4th or 5th century) in reference to a sum of money due each year. Already in the 3rd century in the sense of through the year. From the preposition per (“during”) + annum, the accusative singular of annus (“year”). per annum.
https://en.wiktionary.org/wiki/per_annum
When a small business takes out a loan from a bank to fund its operations or to help finance an expansion, it must be aware of the details of the loan agreement. When a loan agreement states the interest rate per annum, this simply means the annual interest rate on the loan. On a company's balance financial statements, interest payable per annum would refer to the amount of money the company owes each year on a loan.
http://smallbusiness.chron.com/loan-interest-rate-payable-per-annum-25907.html
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https://www.merriam-webster.com/dictionary/per%20annum
annum definition'
Per annum means yearly or annually.