What is annum means?

Annum is a Latin term that is commonly used in financial and economic contexts to indicate a period of one year. It is often abbreviated as "per annum" or "p.a." and is used to express an interest rate, a salary, a budget, or any other value that applies over the course of a year. Annum can be used to calculate compound interest, annualized return on investment, or inflation rate. It is important to note that the concept of annum assumes a fixed period of time and it is not adjusted for fluctuations or changes that might occur during that time period.