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67.

3. What is the interest of 5717. 13s. 9d. for one year, at Ans. £34 6s. 01d. per cent.?

4. What is the interest of 21. 12s. 94d. for a year, at 67. per cent.? Ans. £0 3s. 2d.

FEDERAL MONEY.

5. What is the interest of 468 dols. 45 cts. for one year, at 6 per cent.?

$ cts. 468, 45

6

Ans. 28/10, 70-$28, 10 cts. 7 m. Here I cut off the two right hand integers, which divide by 100 but to divide federal money by 100, you need only call the dollars so many cents, and the inferior denominations decimals of a cent, and it is done.

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Therefore you may multiply the principal by the rate, and place the separatrix in the product, as in multiplication of federal money, and all the figures at the left of the separatrix, will be the interest in cents, and the first figure the right will be mills, and the others decimals of a mill, as in the following

EXAMPLES.

6. Required the interest of 135 dols. 25 cts. for a year at cent?

6

per

cts.

135, 25
6

Ans. 811, 50-$8, 11 cts. 5 m.

7. What is the interest of 19 dols. 51 cts. for one year, at 5 per cent.?

cts. 19, 51 5

Ans. 97, 55=97 cts. 51⁄2m.

8. What is the interest of 436 dols. for one year, at 6 per

cent.?

6

Ans. 2616 cts. $26, 16 cts,

K

ANOTHER METHOD.

Write down the given principal in cents, which multiply 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. 441,90-441 cts. or $4, 41 cts. 9 m.

10. Required the interest of $85, 45 cts. for a year, at ” per cent.?

Cents.

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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 common use; but if the sum be very large, you may say,

As 365 days is to the interest of one year:: so is the given number of days to the interest required.

:

EXAMPLES.

1. What is the interest of 751. 8s. 4d. for 5 years and 2 months, at 67. per cent. per annum?

£. s. d.

62 mo.=1)4 10 6 Interest for 1 year.

£. S. d.

75 8 4

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2. What is the interest of 64 dollars 58 cents for 3 years, 5 months, and 10 days, at 5 per cent. ?

$ 64,58

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Ans. 1112,19=1112cts. or $ 11, 12c. 19m. 3. What is the interest of 789 dollars for 2 years, at 6 Ans. $94, 68 cts. per cent.? 4. Of 37 dollars 50 cents for 4 years, at 6 per cent. per annum? Ans. 900 cts. or $9. 5. Of 325 dollars 41 cts. for 3 years and 4 months, at 5 per cent. ? Ans. $54, 23 cts. 5 m. 6. Of 57. 12s. 3d. for five years, at 6 per cent.?

Ans. £97 13s. 8d.

7. Of 1 41. 10s. 6d. for 3 and a half years, at 6 per cent.? Ans. £36 13s. 8. Of 150%. 16s. 8d. for 4 years and 7 mouths, at 6 per Ans. £41 9s. 7d.

cent.?

9. Of 1 dollar for 12 years, at 5 per cent.?

Ans. 60 cts. 10. Of 215 dollars 34 cts. for 4 and a half years, at 3 and a half per cent. Ans. $33, 91 cts. 6m. 11. What is the amount of 324 dollars 61 cents for 5 years and 5 months, at 6 per cent.?

Ans. $430, 10 cts. 825-m. 12. What will 3000l. amount to in 12 years and 10 months, at 6 per cent.? 13. What is the interest of 2571. 5s. 1d. 3 quarters, at 4 per cent.?

Ans. £18

Ans. £5310. for 1 year and 0s. 1d. 3grs.

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 2797, 13s. 8d. amount to in 3 years

half, at 5 per cent. per annum?

and a

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, 911 cts. 17. What will 730 dols. amount to at 6 per cent. in 5 years, 7 months, and 12 days, or of a year?

Ans. $975, 99 cts. 18. What is the interest of 18251. at 5 per cent. per annum, from March 4th, 1796, to March 29th, 1799, (allow ing the year to contain 365 days?)

Ans. £280.

NOTE.-The Rules for Simple Interest serve also to calculate Commission, Brokerage, Ensurance, or any thing else estimated at a rate per cent.

COMMISSION,

IS an allowance of so much per cent., to a factor or correspondent abroad, for buying and selling goods for his employer.

EXAMPLES.

1. What will the commission of 8437. 10s. come to at 5 ver cent. ?

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2. Required the commission on 964 dols. 90 cts. at 21 per cent.?

Ans. $21, 71 cts.

3. What may a factor demand on 13 per cent. commission for laying out 3568 dollars? Ans. $62, 44 cts.

BROKERAGE,

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. 8s. 4d. at 6s. 8d. per cent. ?

£ s. d.

750 8 4

1

7,50 8.4

20

10,08

12

Here I first find the brokerage at 1 pound per cent. and then for the given rate, which is of a pound.

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2. What is the brokerage upon 4125 dols. at or 75 cents Ans. $30, 93 cts. 71 m. per cent.? 3. If a broker sell goods to the amount of 5000 dollars, what is his demand at 65 cts. per cent.?

Ans. $32, 50 cts

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