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Compound Interest

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REAL ESTATE
July 20, 2008 | Chuck Green, Special to The Times
Bryan and Amanda Callen live in a dream home -- someone else's, that is. The former owner had "built it for his wife," said Bryan Callen, an actor and stand-up comic. The three-story cabin-like residence is on an approximately three-quarter-acre compound in Echo Park. Not that they don't appreciate the virtues of the property, for which they paid $1.3 million several months ago. "There's old growth pine trees and wood everywhere you look," he said.
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OPINION
December 2, 2012
Re "Risky bonds tie schools to huge debt," Nov. 29 While reading the article about school districts selling bonds that saddle them with massive amounts of debt, I thought of those interest-only loans issued during the housing bubble (but here, not even the interest is paid for a while). And we all know how that turned out. Albert Einstein is said to have declared compound interest the universe's most powerful force. All the districts had to do was consult a middle school math teacher to see the long-term costs.
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BUSINESS
November 30, 1996
WALL STREET, CALIFORNIA One woman's early start on retirement savings means compound interest can work its magic. Find out how it increases options in next week's section.
REAL ESTATE
July 20, 2008 | Chuck Green, Special to The Times
Bryan and Amanda Callen live in a dream home -- someone else's, that is. The former owner had "built it for his wife," said Bryan Callen, an actor and stand-up comic. The three-story cabin-like residence is on an approximately three-quarter-acre compound in Echo Park. Not that they don't appreciate the virtues of the property, for which they paid $1.3 million several months ago. "There's old growth pine trees and wood everywhere you look," he said.
CALIFORNIA | LOCAL
July 13, 2001
Re "California May Not Deserve Utility Refund, Referee Says," July 10: Federal mediator Curtis L. Wagner opined that California's claims against out-of-state electricity providers and marketers should be balanced against unpaid debts. Oh, absolutely! Let us seize their assets, add up the fair cost before the manufactured crisis, plus what is owed to them. Then subtract. Overcharges since last spring, check. Calculated cost of personal and business bankruptcies due to "gamed" market, check.
CALIFORNIA | LOCAL
February 26, 1985
David S. Broder's column (Editorial Pages, Feb. 10), "It's Not Nice, but Someone Has to Say It: Raise Taxes," hits the nail squarely on the head, but it doesn't drive it all the way home. He reminds us of the fact that compound interest increases exponentially, and proposes tax increases to cure the deficit problem. He doesn't seem willing to recognize that tax increases alone cannot cure the disease. The economy is relatively healthy at the present time. It is in good times that we must achieve surpluses, not just smaller deficits.
BUSINESS
June 2, 1996 | KATHY M. KRISTOF
With a standard calculator, you have to compute interest for each year successively. It's much faster to use a present-value calculator, which has special keys to speed the process. You can usually use such calculators to solve other problems with statistics, annuities and mortgages. (One basic present-value calculator is the Texas Instruments BA-35, which retails for about $20 at discount office stores.
MAGAZINE
September 28, 1986 | JACK SMITH
Recently, I confessed my inability to conceive of phenomena that are either very large or very small. Even as relatively small an amount as a trillion dollars, which we have already surpassed in our national debt, is beyond me. As I noted, if you spent it at $1 a second it would take you 31,688 years to spend it all. I am also humbled by the news that IBM has generated light pulses so short that as many of them could be crowded into a single second as there are seconds in 30 million years.
REAL ESTATE
October 20, 1991
This is in response to Benny L. Kass' discussion ("Cost Argues Against Shift to 15-Year Loan," Sept. 29) on the shift from a 30-year loan to a 15-year loan, on a small condo, for a 45-year-old first-time home buyer. One of the factors the questioner addressed was the approaching retirement age, with a 15-year, age 60, loan payoff. While Kass may be "biased" against the 15-year loan as compared with the 30-year loan, this situation begs for the shorter one. Using Kass' figures, $100,000 at 9%, a 15-year loan, principal and interest, will have a total outlay of $182,568.
OPINION
December 2, 2012
Re "Risky bonds tie schools to huge debt," Nov. 29 While reading the article about school districts selling bonds that saddle them with massive amounts of debt, I thought of those interest-only loans issued during the housing bubble (but here, not even the interest is paid for a while). And we all know how that turned out. Albert Einstein is said to have declared compound interest the universe's most powerful force. All the districts had to do was consult a middle school math teacher to see the long-term costs.
CALIFORNIA | LOCAL
July 13, 2001
Re "California May Not Deserve Utility Refund, Referee Says," July 10: Federal mediator Curtis L. Wagner opined that California's claims against out-of-state electricity providers and marketers should be balanced against unpaid debts. Oh, absolutely! Let us seize their assets, add up the fair cost before the manufactured crisis, plus what is owed to them. Then subtract. Overcharges since last spring, check. Calculated cost of personal and business bankruptcies due to "gamed" market, check.
BUSINESS
November 30, 1996
WALL STREET, CALIFORNIA One woman's early start on retirement savings means compound interest can work its magic. Find out how it increases options in next week's section.
ENTERTAINMENT
October 29, 1996 | T.H. McCULLOH, SPECIAL TO THE TIMES
The Long Beach Playhouse production of Jay Broad's "A Conflict of Interest," about high-level shenanigans in the Oval Office and surrounding environs, closes on Nov. 2--just before the national elections. It's good timing. This play gives one something to think about, given the charges and countercharges that both major parties take such joy in laying before the public in an election year. The plot reads like a news story.
BUSINESS
June 2, 1996 | KATHY M. KRISTOF
With a standard calculator, you have to compute interest for each year successively. It's much faster to use a present-value calculator, which has special keys to speed the process. You can usually use such calculators to solve other problems with statistics, annuities and mortgages. (One basic present-value calculator is the Texas Instruments BA-35, which retails for about $20 at discount office stores.
REAL ESTATE
October 20, 1991
This is in response to Benny L. Kass' discussion ("Cost Argues Against Shift to 15-Year Loan," Sept. 29) on the shift from a 30-year loan to a 15-year loan, on a small condo, for a 45-year-old first-time home buyer. One of the factors the questioner addressed was the approaching retirement age, with a 15-year, age 60, loan payoff. While Kass may be "biased" against the 15-year loan as compared with the 30-year loan, this situation begs for the shorter one. Using Kass' figures, $100,000 at 9%, a 15-year loan, principal and interest, will have a total outlay of $182,568.
NEWS
September 26, 1990 | MICHAEL FLAGG, TIMES STAFF WRITER
In a ruling on a small point of law, a state court referee made a decision here Tuesday that could save the Irvine Co. up to $80 million and bring the seven-year dispute between chairman Donald L. Bren and heiress Joan Irvine Smith to a close. Referee Robert B. Webster said he would deny Smith's motion that the company pay her 12% interest on a $149-million award for company stock sold by her and her mother, Athalie Clarke. Interest on the award will be calculated for a period of seven years.
CALIFORNIA | LOCAL
August 16, 1985 | LEE DEMBART, Lee Dembart is a Times editorial writer
When the California lottery gets into full swing this fall, it will offer jackpots of $1 million, $2 million and $3 million. The lucky winners, therefore, will be "millionaires," according to common parlance. Not so fast. There's a rub. "All million-dollar prizes will be awarded as annuities over a 20-year period," said an article in The Times. In other words, if you win, say, a million dollars, the Lottery Commission won't hand you a check for a million.
BUSINESS
September 25, 1990 | MICHAEL FLAGG, TIMES STAFF WRITER
Two squads of California lawyers unpacked their pin-stripe suits and legal briefs here Monday and prepared to do battle this morning over as much as $180 million in interest due from the 1983 sale of stock in Irvine Co. The confrontation is the latest chapter in a seven-year legal fight that pits Joan Irvine Smith, whose grandfather founded the sprawling Irvine Ranch, and Donald L. Bren, the Newport Beach billionaire who now controls the giant real estate concern.
BUSINESS
September 25, 1990 | MICHAEL FLAGG, TIMES STAFF WRITER
Two squads of California lawyers unpacked their pin-stripe suits and legal briefs here Monday and prepared to do battle this morning over as much as $180 million in interest due from the 1983 sale of stock in Irvine Co. The confrontation is the latest chapter in a seven-year legal fight that pits Joan Irvine Smith, whose grandfather founded the sprawling Irvine Ranch, and Donald L. Bren, the Newport Beach billionaire who now controls the giant real estate concern.
ENTERTAINMENT
June 12, 1989 | Cathy Curtis
Orange County just received a wonderful present. It's spacious, well-designed and--in its inaugural show--filled with exciting, first-rate art. It's convenient to the freeways, has ample parking, charges no admission and is open six days a week. The name of this place--which opens Tuesday--is Security Pacific Gallery. It's in the South Coast Metro Center, at 555 E. Anton Blvd. in Costa Mesa. And it looks like the best thing that has happened to visual arts in the county since Newport Harbor Art Museum announced its expansion.
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