(Random Access Method of Accounting and Control) The first hard disk computer, introduced by IBM in 1956. All 50 of its 24" platters together held a total of five million 8-bit alphanumeric characters (5MB). Weighing more than a ton, RAMAC was half computer, half tabulator, and more than a thousand units were built until production ceased in 1961. The RAMAC had a drum memory for program storage, but its I/O was wired by plugboard. The machine was a major breakthrough as all prior computer storage used magnetic tape. RAMAC leased for USD $38,400 per year, equivalent to roughly $300,000 in 2016 dollars. About a third of the cost was RAMAC's "huge" disk system. However, 60 years later, that same amount of storage cost less than one thousandth of one cent on a multi-terabyte hard drive. See tabulator.