Par: meaning, definitions and examples
ποΈββοΈ
par
[pΙr ]
Definitions
golf term
In golf, 'par' refers to the number of strokes that an expert golfer is expected to take to complete a hole or a round. It serves as a standard against which a player's performance can be measured. For example, a hole that is considered a par 3 should ideally be completed in three strokes. Achieving 'par' on a hole indicates that a player has performed at the expected level, neither better nor worse. Additionally, 'par' can also refer to the average or standard quality in other fields, such as finance.
Synonyms
Examples of usage
- She made par on the 15th hole.
- He aims to finish the round at par.
- This hole is a par 4, so plan your shots accordingly.
financial term
'Par' in finance refers to the face value of a bond or stock. This is the value at which the bond or stock is issued and the amount that will be paid back to the bondholder at maturity. When a bond sells at par, it means that it is trading at its face value, which is typically $1,000 for most bonds. Understanding par is crucial for investors as it helps them evaluate the performance of their investments over time.
Synonyms
face value, maturity value, nominal value.
Examples of usage
- The bond was issued at par.
- Investors were pleased to see the bond trading at par again.
- After the interest rate hike, the bond fell below par.
Interesting Facts
Etymology
- The word 'par' comes from the Latin word 'par' meaning 'equal' or 'a pair'.
- 'Par' was first used in the context of finance in the early 18th century to indicate an equal value.
- In golf, it began to be commonly used in the 19th century to denote the expected number of strokes for a hole.
Golf Terminology
- In golf, each hole is assigned a par, which is the number of strokes an expert golfer is expected to take.
- If a golfer completes a hole in fewer strokes than par, itβs called a birdie; if more, a bogey.
- The concept of 'par' helps players understand their performance compared to a standard.
Education
- In educational assessments, being at 'par' can indicate students are meeting standardized benchmarks.
- The term is used to evaluate performance, ensuring comparison against a common standard.
- Understanding what 'par' means can help students set realistic goals for improvement.
Cultural References
- The phrase 'par for the course' is often used to describe something typical or expected in a situation.
- In finance, 'par value' refers to the face value of a bond or stock, an important concept in investment.
- Using 'par' in common sayings emphasizes expectations in business and daily life.