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Loan and Mortgage Terms Glossary


The amount of money a seller receives for the goods or services sold. Price is the amount of money actually received by the seller, not necessarily the amount originally asked for. In the buying and selling of bonds and mortgages, price represents the difference -- expressed as a percentage -- between the amount paid for an instrument and the face value of that instrument. For example, if sold at par, the price is 100 percent of the face value; a premium price could be 105 percent; and a discount price could be 95 percent of face value.

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