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The sale or lease of motor vehicles for use on the road incurs an additional 0.3% tax, rental of a car for less than 30 days has an additional state/local tax of 8.9%. [211] When renting a car for less than 30 days in Seattle, the total sales tax is 18.6%. When buying an automobile, if one trades in a car, the state deducts the price of the ...
The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized. The interest rate has been characterized as "an index of the preference . . . for a dollar of present [income] over a dollar of future income". [1]
The bond is a debt security, under which the issuer owes the holders a debt and (depending on the terms of the bond) is obliged to pay them interest (the coupon) or to repay the principal at a later date, termed the maturity date. [42] Interest is usually payable at fixed intervals (semiannual, annual, or sometimes monthly).
Under the encouragement of GM President Alfred P. Sloan Jr., GM acquired Vauxhall Motors for $2.5 million in 1925. [35] The company also acquired an interest in the Yellow Cab Manufacturing Company the same year, and its president, John D. Hertz, joined the board of directors of GM; it acquired the remainder of the company in 1943. [16]
The early 1980s saw a recession along with high interest rates, which stressed both thrift and other banking institutions considerably. [7] Negative net interest margins, due to the low interest earned on assets with high deposit interest expenses needed to retain deposits, caused a wave of thrift failures between 1981 and 1983. [1]
January 22, 2008: The US Federal Reserve cut interest rates by 0.75% to stimulate the economy, the largest drop in 25 years and the first emergency cut since 2001. [107] January 2008: U.S. stocks had the worst January since 2000 over concerns about the exposure of companies that issue bond insurance. [108]
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