Word: payment
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...Iranian reply this time was a stunner. "It was outrageous," bellowed one U.S. official. On Dec. 21, Tehran demanded the payment of $24 billion in cash and gold. That amount was the Iranian estimate of the value of the assets frozen by the U.S. Government, interest owed to Iran and the holdings of the late Shah's estate. American officials seriously considered breaking off the talks as hopeless. Instead, they decided to ignore the bizarre $24 billlion figure and to push ahead with the discussions. The Iranians never again mentioned the $24 billion demand...
...corporations against some $2.2 billion of its assets held in a variety of U.S. banks can be reviewed and settled by an international tribunal. From its original demand for some $24 billion, Iran thus had reduced its asking price to $9.5 billion and was insisting on getting a down payment of just $5.2 billion on the day the Algerians confirmed that the hostages had been released...
...perhaps fitting denouement to their company's slide, Jones and Shaw early this month went to the Internal Revenue Service office in San Diego to arrange payment for their remaining $1,619 in back taxes. When the two businessmen were informed that they had just ten days to pay, an angry Jones demanded to know why they had not been told of that earlier. The IRS clerk replied calmly: "Probably incompetence around here. It sounds like a lot of red tape, but that's the Government...
...afford to borrow the money from his local banker. The Fort Wayne National Bank, where he has been a customer for three years, would have given him a mortgage last October with an interest rate somewhere between 13% and 14%. But the bank insisted on a 30% cash down payment and Despos could not afford it. The $52,500 cash outlay would have eaten up all the tailor's working capital. Since then mortgage rates have climbed...
Homeowners are among the biggest gainers. Many people buy property today with the anticipation that inflation will continue. A homeowner holding a 12% mortgage would have a crippling house payment if inflation, and the accompanying double-digit salary increases, suddenly stopped. Marty Brennan, 39, a San Francisco real es tate speculator, makes an annual income of more than $100,000 from property investments. Says she: "Without inflation, I would have to be about 20 times smart er at my business and would have to work a lot harder to earn money instead of just making...