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Meaning / Definition of
Representative Money
Categories: Forex,
Something that is not in the physical form of currency, but represents the intent to pay money. a paper check from a banking institution is an example of representative money. The check is not a physical piece of money, but it implies the intent to repay.
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Definition / Meaning of
Home Equity
Categories: Credit and Debt, Real Estate, Legal, ,
The current market value of a house minus how much is owed on it. A home equity loan borrows against this amount.
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