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The homeowner's locality (which can usually borrow the initial sum at a better rate) shoulders the upfront costs.
Yesterday Mr. Bloomberg ruled out using the initial sum -- which he put at $242 million, as opposed to the $204 million that the governor described -- for raises.
The drawback is that the final repayment will be greater than the initial sum borrowed due to accrued interest, which can soon add up to a significant sum.
The euro area also has its temporary rescue fund, which will lend the Spanish government the initial sum of money for the banks.
Interest on the loan is fixed throughout the life of the loan, and is usually rolled up and added to the initial sum, although deals allowing the borrower to pay off the interest each month are available.
Add that to the state pension and it could cover spending until death, and mean that the initial sum of money only has to cover spending until the age of 75.
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I looked on this initial sum of money as an aid to raising more money.
But now the university system is carrying a roughly $1.3 billion obligation to more than 100,700 faculty, staff and administrators who were promised generous returns on those initial sums that the university salted away for them.
Crusebjörn followed in the footsteps of Rappe described as "the spiritual father of Boden Fortress" thanks to his efforts—as he proposed, in accordance with the Committee's plan, that the Riksdag should allocate an initial sum of 560,000 kronor which would be used to initiate construction of Boden Fortress.
The latest good news follows on from a group of fans paying an initial sum to the bank to transfer their debt.
The state has allocated an initial sum of $171 million to buy homes in low-lying areas, part of an ambitious effort by Mr. Cuomo to reshape coastal land in the face of more frequent extreme weather.
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