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The E-Sylum:  Volume 9, Number 18, April 30, 2006, Article 22

FIXING THE MATH ON THE COOK ISLANDS $50S

Last week Kerry Rodgers discussed the estimated outstanding
dollar amount of Cook Islands noncirculating legal tender
issues.  He came up with over $10 million face, justifying
the term "millions" that had popped up the previous week.
He asked me to check his math, and I quickly agreed that
millions was correct, but I didn't get the details right
in my comments.

Mike Marotta writes: "I worked the arithmetic three times --
twice on calculator and once by hand using a different commutation
-- and got 108 000 000 for 36 issues of 60,000 coins worth 50
dollars each."   He's right - the correct total is $108 million
New Zealand dollars.

On the coinage of the term NCNLT (non-circulating non-legal
non-tender) Mike also correctly points out that that he had used
the term in his previous week's submission.  He writes: "On the
coining of NCNLT -- the term, not the coins -- in the April 16
issue, I had published this:  "They thought that they could scam
tourists with their non-circulating non-legal non-tender."  I
agree that NCNLT is more correct and that my phrase was overkill."

  Wayne Homren, Editor

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