Is the set of upper(and separately lower)-triangular matrices a ring?

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I was reading lecture notes which mentioned the set of upper (and separately lower)-triangular matrices of a certain dimensionality is a group under matrix multiplication. That made me wonder if they also form a ring under addition and multiplication.

So first, they are an abelian group under matrix addition:

  • The sum of any number of triangular matrices is itself a triangular matrix.
  • The 0 matrix is the 0 element.
  • There is an additive inverse. (Element-wise negation)
  • Matrix addition is commutative.

Then, they are a monoid under multiplication.

  • The product of any number of triangular matrices is itself a triangular matrix.
  • The identity matrix is the multiplicative identity.

And finally, multiplication distributes over addition.

Is that correct?

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Yes. The reasoning above is correct.