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ZERO BOND: Also termed a zero coupon bond, a bond that does not pay interest, in which the return is generated by the difference between the purchase price and the face value paid at maturity. Because they do not pay interest, zero bonds are sold at a discount. For example, a $10,000 zero bond that matures in one year, would generate a 10% return if it sold at a discount of $9,000.
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PRIME RATE: The interest rate banks charge their best, most credit-worthy customers. This is one of the key interest rates in the economy, and it is watched closely by financial types, government policy makers, and businesses. It's also an interest rate that should be watched closely by consumers who have loans with adjustable rates, like credit cards, that are "pegged" to the prime rate. Any movement in the prime rate triggers an automatic change in these adjustable rates. See also | interest rate | bank | federal funds rate | discount rate |
Recommended Citation:PRIME RATE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: January 20, 2025].
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COMMUNISM In theory, an economy, or economic system, based on--(1) a classless society, where everyone does their best to contribute to the common good, (2) common, rather than individual, ownership of all resources, (3) the complete disappearance of government, and (4) income allocated based entirely on need rather than on resource ownership or contribution to production. In practice, communism is a type of command economy based on--(1) government ownership and control of most resources, goods, and other assets and (2) excruciatingly detailed central planning by government.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club looking to buy either a wall poster commemorating next Thursday or a pair of gray heavy duty boot socks. Be on the lookout for telephone calls from former employers.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"Act well at the moment, and you have performed a good action for all eternity." -- Johann Kaspar Lavater
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ATM
Automated Teller Machine
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