Episode 257: The Time Value of Money
Words & Numbers
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The Time Value of Money and Property Taxes
Some argue that property taxes violate a person's right to own their house. But this contradicts what we understand about the time value of money, says David Frum. A one-time payment of $60,000 is mathematically equivalent to $3,000 per year every year from now until forever. Under Sharia law, under Islamic finance, it is illegal to charge interest.
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