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Insurance premium. The sum paid for the insur


Insured. The one secured against loss.

Insurer. The one who takes the risk. The under


Integer. A whole number.

Integral number. A whole number, as, 4, 1. Interest. That which is paid for the use of money. It is usually money.

Internal revenue. Taxes collected in the form of internal duties.

International date line. The imaginary line agreed

upon by civilized nations as the place where one day ends and another begins.

Investment. The laying out of money in the purchase of goods or property.


A list sent to a purchaser or consignee, of articles bought or to be bought, with prices. Involution. The process of raising a number to a certain power.

Isosceles triangle. One having two sides that are equal.

Joint and several note. One in which the makers are each liable for the full amount of the note as well as being jointly liable.

Joint note. One in which the makers are jointly liable for the amount.

Joint stock. Stock held jointly.

Latitude of a place. Distance north or south of the equator.

Leakage. An allowance for loss of imported liquids in transportation.

Leap year. One of 366 days. It occurs every 4 years and every year exactly divisible by 400.

Leats common denominator. The least denominator that can be common to the fractions considered. Least common multiple of two or more numbers. The least number that will exactly contain each of them.

Ledger. A book where summaries of accounts are kept.

Legal rate. The rate by law.

Letter of credit. A letter addressed to some one at a distance, asking him to pay the sum named in it to the person specified, or to pay it as such person requests. The person addressed is reimbursed by drawing on the party writing the letter, or debiting it on the account between the parties. Liabilities. The unsettled debts and obligations of an organization.

Like numbers. Numbers of the same unit value. Linear measure. That used in measuring lines or


Liquid measure. That used in measuring liquids ordinarily.

List price. The price named in the manufacturer's or dealer's list.

Liter. The unit of capacity in the metric system;a cubic decimeter.

Loan. Money to be returned after temporary use. Logarithm. The exponent of the power to which a number, called the base, must be raised to produce a number.

Long division. Division in which the processes are written.

Longitude of a place. Its distance east or west of the prime or standard meridian. The meridian of Greenwich, England, is generally considered the prime meridian.

Loss. The cost price minus the selling price.

Magnitude is anything. It answers the question

"How much."

Maker, drawer, or promisor, of a note.

who signs it.

Mantissa. Something left over.

The one

Market value. The value that can be received in

the open market.

Maturity of a note. The date on which it legally becomes due.

Mean proportional. A term used as the antecedent in one ratio and as the consequent in the other ratio of a proportion.

Means. The second and third terms of a proportion. Measure. (a) A unit or standard of comparison. (b) To determine quantity by use of a unit. Mensuration. The measuring of lines, surfaces, and solids.

Merchandise. Whatever is bought and sold in trade. Meridian. A semi-circumference, from pole to pole. Meter. The standard unit of length in the metric system.

Micron. The one millionth part of a meter.

Mint. A place where money is coined.

Minuend. The number from which another is taken. Mixed number. The sum of an integer and a fraction, as, 41.

Monetary. Pertaining to money.

Money. Coin. Currency lawful in place of coin, as, bank notes.

Mortgage. (a) To convey property as security for a

debt, the conveyance to be void on payment of the debt. (b) The paper containing the mortgage contract.

Multiple. The result of multiplying integers by integers.

Multiplicand. The number to be multiplied.

Multiplication. A short process of finding the sum when a number is taken a certain number of times as an addend.

Multiplier. The number which shows how many times the multiplicand is taken.

National banks. Those established under provisions or acts of Congress.

Negotiable. dorsement.

Capable of being transferred by in

Net. Without further discount. It may mean after all expenses are taken out.

Net price. The price after discounts or expenses have been taken out.

Net proceeds. What remains from a sale when all expenses and discounts are paid.

Non negotiable. Not transferable by indorsement. Notation. The writing of numbers.

Note. A written or printed paper promising payment of an acknowledged debt at a certain time. Number. (a) A collection of units of the same kind. (b) To name by numbers.

Numeration. The naming of numbers.

Numerator. The numberer. The part of a fraction which shows the number of parts considered.

Obligation. Liability. Debt.

Odd numbers. Those not exactly divisible by two. Ohm. The unit of resistance in measuring electricity. Open account. An unsettled account.

Order of units. A name designating the number in a group, as, tens, hundreds, etc. Outstanding debts. Debts unpaid.

Panic. A financial crisis.
Par. Face. Face value.

Parallel lines. Lines that will not meet however

far extended.

Parallelogram. A quadrilateral whose opposite sides are equal.

Parallelopiped. A prism whose bases are parallelo

grams. Parenthesis.

A pair of curved lines inclosing two

or more quantities, ( ).

Partial payment. A payment made to discharge part of an obligation.

Partial product. The result of multiplying by part of the multiplier.

Partitive proportion. The separation of a number into parts bearing a certain relation to each other. Partnership. A business association of two or more persons.

Par value. Face value.

Pay. To give an equivalent.

Payee. (a) The one to whose order a paper is payable. (b) One to whom money is paid.

Payer. One who pays.

Pendulum. A body suspended from a fixed point and moving freely about that point as a center. Per capita. By the head.

Per cent. By the hundred.

Percentage. (a) The arithmetic of per cent. (b) The

product of the base by the number representing the per cent.

Percentage of a number. One or more hundredths of a number.

Perimeter. The distance around a plane figure. Period. (a) A group of three figures. (b) A dot. Personal property. Movable property, as cattle, furniture, etc.

Policy. The written contract between the insurer

and person in whose favor insurance is given.

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