Annual - GCSE Maths Definition

In the context of GCSE Maths, the term 'annual' refers to anything that occurs once every year or is measured over the course of a year. It is often used to describe events, rates, or figures that are evaluated on a yearly basis. For example, an annual interest rate is the percentage of interest you earn or pay over one year. Understanding this concept is important for solving problems related to financial mathematics, such as calculating the total amount of money accumulated in an account over time or determining the cost of a loan.