If a number is annualized, someone has turned a shorter stretch of time into a “for one year” figure. A shop’s sales for one month, a fund’s return for three months, a worker’s pay for ten weeks — you treat that pace as if it lasted a whole year, so you can compare things that were measured on different clocks. Banks, funds, and news use this a lot.

If a number is annualized如果一個數字被annualized（年化）, someone has turned a shorter stretch of time into a "for one year" figure表示有人把一段比較短的時間換算成「一年份」的數字。A shop's sales for one month, a fund's return for three months, a worker's pay for ten weeks店家一個月的營業額、基金三個月的報酬、員工十週的薪水 — you treat that pace as if it lasted a whole year把那個速度當作維持了一整年來算, so you can compare things that were measured on different clocks這樣才能比較用不同時間長度衡量出來的東西。Banks, funds, and news use this a lot銀行、基金和新聞報導都很常用這個說法。

Though actually, an annualized number is a calculation, not a promise. If you earned one percent in a month, the annualized figure can look large, but you may not earn that every month. How they do the math also matters: some just multiply by twelve; some use compound interest, where each bit grows on the last bit.

Though actually, an annualized number is a calculation, not a promise不過實際上，年化後的數字只是一種算法，不是一種保證。If you earned one percent in a month如果你一個月賺了百分之一, the annualized figure can look large年化後的數字看起來會很大, but you may not earn that every month但你不一定每個月都能賺到那麼多。How they do the math also matters算法本身也很重要: some just multiply by twelve有些人直接乘以十二; some use compound interest有些人用複利計算, where each bit grows on the last bit讓每一部分都在前一部分的基礎上再成長。

When you see “annualized return,” ask two quiet questions: over what stretch, and by what method? It is a money-and-statistics word, not everyday talk, and it is not the same as annual, which simply means “once a year.”

When you see "annualized return," ask two quiet questions當你看到annualized return（年化報酬）時，可以默默問自己兩個問題: over what stretch, and by what method是算哪一段時間，又是用什麼方法算出來的？It is a money-and-statistics word這是一個財經統計的用語, not everyday talk不是日常會用的字, and it is not the same as annual而且它跟annual不一樣, which simply means "once a year"annual只是單純表示「一年一次」。