Math Definitions - Letter L


Definition of 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.


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


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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