Meaning of the word annum in English

What does annum mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

annum

US /ˈæn.əm/
UK /ˈæn.əm/

Noun

a year (used especially in financial and administrative contexts)

Example:
The company's profits increased by 10% per annum.
The subscription fee is $120 per annum.
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