Math Definitions - Letter L
Chapters
Loan
Definition of Loan
A loan is money (or property) that someone, like a relative or a bank, allows you to borrow, provided that you will pay it back in the future, usually with interest.
For example, if Sam borrows \(\$2,000\) from the bank for a one year term, and agrees to pay \(\$200\) interest, he will have to pay the bank \(\$2,200\) next year.
Description
The aim of this dictionary is to provide definitions to common mathematical terms. Students learn a new math skill every week at school, sometimes just before they start a new skill, if they want to look at what a specific term means, this is where this dictionary will become handy and a go-to guide for a student
Audience
Year 1 to Year 12 students
Learning Objectives
Learn common math terms starting with letter L
Author: Subject Coach
Added on: 6th Feb 2018
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