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Topic: 4th of July
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Aaron Mehocic
Jedi Master Film Handler
Posts: 804
From: New Castle, PA, USA
Registered: Jun 99
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posted 07-05-2005 09:05 PM
quote: Gordon McLeod I wonder what that tax bill would add up to now if we applied Masterard compound interest rates to it
This question is very simple to answer.
The Tea Act of 1773 called for a two cent tax on every pound of dried tea leaves sold by the British East India Company to the colonial subjects in America. Waiting in Boston Harbor in December 1773, were three ships loaded with 10,000 pounds of tea ready for market.
OK, so lets take 10,000 pounds and multiply it by $.02 for a total of $200. As of this writing, it has been 2,780 months since the actual event. Lets use an arbitrarily interest rate of . . . I don't know . . . 18% compounded monthly.
Mathematically, the citizens of Boston owe the British Crown approximately $656,080.00 in back taxes payable through the city's credit card.
Should have just paid the $200 and said screw it.
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