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Miller promised 10% a week interest and exploited some of the main themes of Ponzi schemes such as customers re-investing the interest they made. He defrauded buyers out of $1 million and was sentenced to jail for 10 years. After he was pardoned, he opened a grocery store on Long Island.
Coupon (finance) In finance, a coupon is the interest payment received by a bondholder from the date of issuance until the date of maturity of a bond. [ 1] Coupons are normally described in terms of the "coupon rate", which is calculated by adding the sum of coupons paid per year and dividing it by the bond's face value. [ 2]
The British textile industry depended on cotton from the South, but it had stocks to keep the mills operating for a year and in any case the industrialists and workers carried little weight in British politics. A war would cut off vital shipments of American food, wreak havoc on the British merchant fleet, and cause the immediate loss of Canada.
t. e. A zero-coupon bond (also discount bond or deep discount bond) is a bond in which the face value is repaid at the time of maturity. [1] Unlike regular bonds, it does not make periodic interest payments or have so-called coupons, hence the term zero-coupon bond. When the bond reaches maturity, its investor receives its par (or face) value.
About 50% of these were January - March 1988 arrivals. The 10% who arrived before 1987 also provided useful information, but more than one third of these had migrated earlier because of drought or in order to seek employment in the more prosperous neighboring country; thus, the date for 1987 and 1988 arrivals is the most useful.
Target benefit plan. A target benefit plan is a type of pension plan that is similar to a defined contribution plan in that it involves fixed contributions, or a fixed range of contributions, which are set independently of a plan's funded position. Benefits are based on affordability projections. Plan members share plan risk through adjustments ...
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