annum

The word annum comes from Latin, meaning "year." It's not something you'd use in everyday conversation like "last year" or "next year," but rather when talking about periods of time, especially in financial or academic contexts. Think of things that happen per annum—meaning "each year." For example, a salary might be quoted as $60,000 per annum, meaning the total yearly income. Or, an academic journal might publish one issue per annum. It's a bit formal and adds a touch of precision when you need to specify a yearly cycle.

Annum is a Latin word meaning "year." While we don't often say "I will see you next annum," it appears frequently in specific phrases, particularly those relating to finance, academia, or legal matters. It's used to denote something that happens each year, or relates to an annual cycle.

You'll most commonly encounter it as part of the phrase "per annum," which means "for each year." This is often used when discussing interest rates on loans ("The loan carries an interest rate of 5% per annum"), salaries ("Her salary is $75,000 per annum"), or rental income.

In contracts and financial documents, you may also see it abbreviated as p.a. for "per annum."

Beyond finance, annum serves as the etymological root for common words like "annual" and "anniversary." In scientific contexts, such as geology or astronomy, it is sometimes used to denote vast spans of time (e.g., a megaannum (Ma) for one million years). However, it is important to distinguish it from the adjective "annual." You wouldn't typically say an "annum report," but rather an "annual report."

While not a common word in casual speech, understanding annum unlocks meaning in specialized fields where precise yearly references are crucial. So next time you see "per annum," remember it simply means "each year," adding a touch of formality and precision to the statement.