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Term of the Day


1. GeneralExcess over apparent worth.
2. Banking: Fee charged for advancing a loan (see points).
3. CommerceMerchandise offered free or at reduced price to make a combined offer (see bundling) more attractive to the customer.
4. Mutual fundsClosed-end mutual fund’s market price above its net asset value.
5. SecuritiesAmount by which a security is selling at above its par value.
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