Interest for 1 year is known as ____ per annum
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The per annum interest rate refers to the interest rate over a period of one year with the assumption that the interest is compounded every year. For instance, a 5% per annum interest rate on a loan worth $10,000 would cost $500. A per annum interest rate can be applied only to a principal loan amount. I hope this helps
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6 per cent ........................
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