Such a symbol is called a "variable". It can be a letter, a group of letters (especially in computer programming), or a letter with a subscript (a lowered number, or some other letter - this is more common in math). The letters need not be from the Latin alphabet; Greek letters, or sometimes Hebrew letters, are also used.
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The symbol (not symbal) can be anything you like. Letters from the Roman alphabet are most common but those from the Greek or Hebrew alphabet are also used.