Equity is the amount of money that a property or business is worth beyond what is owed. For instance, if you owe $200,000 on your home, and it’s worth $300,000, then you have an equity of $100,000 (breaking news: languageandgrammar.com does math!). Sweat, of course, is the perspiration that comes through the pores of the skin.
That must mean that sweat equity is the amount perspiration beyond the amount that you owe, which, I guess, is how much sweat that you’re expected to produce.
I don’t know about you, but I’m never going to use that term again. I think I’m getting nauseated!