ANOTHER METHOD. Write down the given principal in cents, which multi ply by the rate, and divide by 100 as before, and you will have the interest for a year, in cents, and decimals of a cent, as follows: 9. What is the interest of $73, 65 cents for a year, at 6 per cent. ? Principal 7365 cents. 6 Ans. 441,90cts.=441% cts. or $4, 41cts. 9m. 10. Required the interest of $85, 45cts. for a year, at 7 per cent.? Cents. Principal 8545 7 Aus 598, 15 cents,-$5,98cts 11m. CASE II. To find the simple interest of any sum of money, for any number of years, and parts of a year. GENERAL RULE. 1st. Find the interest of the given sum for one year. 2d. Multiply the interest of one year by the given number of years, and the product will be the answer for that time. 3d. If there be parts of a year, as months and days, work for the months by the aliquot parts of a year, and for the days by the Rule of Three Direct, or by allowing 30 days to the month, and taking aliquot parts of the same. By allowing the month to be 30 days, and taking aliquot parts thereof, you will have the interest of any ordinary sum sufficiently exact for commou use; but if the sum be very large, you may say, As 365 days is to the interest of one year: so is the givea aumber of days; to the interest required, EXAMPLES. 1. What is the interest of 751. 8s. 4d. for 5 years and 2 months, at 61. per cent. per annum ? d. 8. d. 6 Interest for 1 year. 5 2. What is the interest of 64 dollars 58 cents for $ years, 5 months, and ten days at 5 per cent. ? $64,58 Ans. 1112,19-1112cts. or $11, 12c. 1m. 3. What is the interest of 789 dollars for 2 years, at 6 per cent. ? 4. Of 37 dollars 50 cents, for per annum ? 5. Of 325 dollars 41 cts. for 3 5 per cent. ? Ans. 94, 68cts 4 years, at 6 per cent. Ans. 900cts. or $9. years and 4 months, at Ans. $54, 23cts. 5m. 6. Of 325l. 12s. 3d. for five years at 6 per cent. ? cent. ? Ans. £97 13s. 8d. 7. Of 1747. 10s. 6d. for 3 and a half years at 6 per Ans. £36 13s. 8. Of 1507. 16s. 8d. for 4 years and 7 months, at 6 per Ans. £41 9s. 7d cent, ? 9. Of 1 dollar for 12 years at 5 per cent. ? 1 Ans. 60sts. 10. Of 215 dollars 34 cts. for 4 and a half years, at 3 and a half per cent. ? Ans. $33, 91cts. бm. 11. What is the amount of 324 dollars, 61 cents, for 5 years and 5 months, at 6 per cent. ? Ans. $430, 10cts. 835m. 12. What will 3000l. amount to in 12 years and 10 Ans. £5310. months at 6 per cent. ? 13. What is the interest of 2571. 5s. 1d. for year and 3 quarters, at 4 per cent. ? Ans £18 Cs. 1d. 3qrs. 14. What is the interest of 279 dollars, 87 cents for 2 years and a half, at 7 per cent. per annum ? Ans. $48, 97cts. 74m. 15. What will 2791. 13s. 8d. amount to in 3 years and a half at 51 per cent. per annum? Ans. £331 1s. 6d. 16. What is the amount of 341 dols. 60 cts. for 5 years and 3 quarters, at 7 and a half per cent. per annum ? Ans. $488, 91 cts, 17. What will 730 dols. amount to at 6 per cent. in 5 years, 7 months and 12 days, or 365 12 of a year ? Ans. $975, 99cts. 18. What is the interest of 18251. at 5 per cent. pe annum, from March 4th, 1796, to March 29th, 1799, (allowing the year to contain 365 days ?) Ans. £280. NOTE. The Rules for Simple Interest serve also to calculate Commission, Brokerage, Insurance, or any thing else estimated at a rate per cent. ? COMMISSION, IS an allowance of so much per cent., to a factor or cor respondent abroad, for buying and selling goals for his employer EXAMPLES. 1. What will the commission of 9454 10s. come to at 5 per cent. per cent. ? £42 38. 6d. 964 dols. 90cts. at 21 Ans. $21, 71cts. Ans. $62, 44cts. 3. What may a factor demand on 13 per cent. commission for laying out 3568 dollars? IS an allowance of so much per cent. to persons assisting merchants, or factors, in purchasing or selling goods. EXAMPLES. 1. What is the brokerage of 7501. Ss. 4d. at Es. 8d. pcr cent. ? 2. What is the brokerage upon 4125 dols. at or 75 cents per cent. ? Ans. $30, 93cts. 71m. 3. If a broker sells goods to the amount of 5000 dǝls. what is his demand at 65 cts. per cent. ? Âns $32, 50cts. 4. What may a broker demand, when he sells goods te the value of 508/. 17s. 10d. and I allow him 14 per cent. ♪ Ans. £7 12s. 8d. INSURANCE, IS a premium at so much per cent. allowed to persons and offices, for making good the loss of ships, houses, merchandize, &c. which may happen from storms, fire, &c. EXAMPLES. 1. What is the insurance of 7251. Ss. 10d. at 12 per cent. ? Ans. £90 13s. 74d. 2. What is the insurance of an East-India ship and cargo, valued at 123425 dollars, at 15 per cent. ? Ans. $19130, 87′′ts. 5m. 3. A man's house estimated at 3500 dollars, was insur ed against fire, for 13 per cent. a year: what insurance did he annually pay? Ans. $61, 25ets. SHORT PRACTICAL RULES, For calculating Interest at 6 per cent. either for months, or months and days. 1. FOR STERLING MONEY. RULE. 1. If the principal consists of pounds only, cut off the unit figure, and as it then stands i will be the interest for one month, in shillings and decimal parts. 2. If the principal consists of nounds, shillings, &c. reduce it to its decimal value; then emove the decimal point one place or figure, further tow rds the left hand, and as the decimal then stands, it will shew the interest for one month in shillings and decimals of a shilling EXAMPLES. 1. Required the interest of 541. for seven months and ten days, at 6 per cent. |