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interest
interest charge for the use of credit or money, usually figured as a percentage of the principal and computed annually. Simple interest is computed annually on the principal. Compound interest, paid by some savings banks, computes the interest on the principal as well as on any previous interest th...
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savings bank
savings bank financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. A common form of savings bank, the mutual savings bank, was traditiona...
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loan
loan in business, sum of money borrowed at a particular interest rate. More generally, it refers to anything given on condition of its return or repayment of its equivalent. A loan may be acknowledged by a bond, a promissory note, or a mere oral promise to repay. Because of biblical injunctions aga...
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Alfred Pritchard Sloan, Jr.
Alfred Pritchard Sloan, Jr. 1875-1966, American businessman and philanthropist, b. New Haven, Conn., grad. Massachusetts Institute of Technology, 1895. He began his career as a draftsman for the Hyatt Roller Bearing Company, becoming its president in 1901; under his leadership the income and assets...
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pressure group
pressure group body, organized or unorganized, that actively seeks to promote its particular interests within a society by exerting pressure on public officials and agencies. Pressure groups direct their efforts toward influencing legislative and executive branches of government, political parties,...
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Wisconsin v. Yoder
Wisconsin v. Yoder case decided in 1972 by the U.S. Supreme Court, which held that Amish children could be exempted from compulsory school-attendance beyond the 8th grade; the Amish (see under Mennonites ) community's interest in maintaining a simple way of life, which it saw threatened by higher ...
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free silver
free silver in U.S. history, term designating the political movement for the unlimited coinage of silver.
Origins of the Movement
Free silver became a popular issue soon after the Panic of 1873, and it was a major issue in the next quarter century. The hard times of 1873-78 stimulated adv...
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Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000 (temporarily increased to $250,000 from Oct., 2008, through Dec., 2009). The corporation was e...
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physical education and training
physical education and training organized instruction in motor activities that contribute to the physical growth, health, and body image of the individual. The historical roots of physical education go back as far as the ancient Chinese (c.2500 BC), who had a well-developed system of exercise and p...
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balance of payments
balance of payments balance between all payments out of a country within a given period and all payments into the country, an outgrowth of the mercantilist theory of balance of trade . Balance of payments includes all payments between a country and its trading partners and is made up of the balanc...
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