The amount of note, or principal, is . . . $620 000 Interest on the same, up to Oct. 6, 1838, is 40'386 Amount due on note, Oct. 6, 1838, is . . . 660386 The first indorsement is . . . . . . . . 61-070 599.316 Interest from Oct. 6, 1838, to March 4, 1839, is 17.247 Amount due March 4, 1839, is . . . . . 616'563 The second indorsement is . . . . . . . 89-030 527°533 Interest from March 4, 1839, to Dec. 11, 1839, is 28414 555.947 The third indorsement is . . . . . . . 107-770 448-177 Interest from Dec. 11, 1839, to July 20, 1840, is 19:085 467°262 The fourth indorsement is . . . . . . . 200-500 * 266,762 Interest from July 20, 1840, to Oct. 15, 1840, is 4.409 Ans $271' 171 Utica, May 1, 1836. 3. For value received, I promise to pay Is AAc CLARK, or order, three hundred and forty-nine dollars, ninety nine cents, and eight mills, with interest at 6 per cent. N. BROWN. Indorsements were made on this note as follows: Dec. 25, 1836, there was paid . . . . . $49.998 June 30, 1837, “ “ “ . . . . . 4.998 Aug. 22, 1838, “ “ “ . . . . 15'000 June 4, 1839, “ << “ . . . . 99.999 How much was due April 5, 1840? Year. Mo. Day. Interest at Date of note 1836 4 1 Mo. Day. 6 per cent. 1st indorsement, 1836 11 25 * * *::::::, & 4 Year. - 6 . . . . ." . . . - 9 12 0-047 4th * * 1839 5 4 10 1 0.050, Date of settlement, 1840 3 5 The amount of the note, or principal, is . . $349,998 Interest up to Dec. 25, 1836, is . . . . . 13.650 363-648 The first indorsement is . . . . . . . . 49.998 313'650 Interest up to June 4, 1839, is . . . . . 45:950 J 359'600 Indorsement June 30, 1837, which is less than the interest then due, } $4.998 Indorsement August 22, 1838, .* . 15.000 19.998 This sum is still less than the interest now due. Indorsement June 4, 1839, . . . 99-999 $119.997 This sum exceeds the interest now due. 239'603 Interest up to April 5, 1840, is . . . . . . 12:020 Amount due April 5, 1840, . . . . . . $251,623 UTICA, Dec. 9, 1835. 4. For value received, I promise to pay PETER SMITH, or order, one hundred and eight dollars and forty-three cents, on demand, with interest at 7 per cent. JOHN SAVE ALL. Indorsements were made as follows: March 3, 1836, there was indorsed . . . $50.04 Dec. 10, 1836, “ << & 4 . . . 13°19 May 1, 1838, “ & 4 44 . . . 50° 11 How much remained due Oct. 9, 1840? - Ans. $5'844. Utica, Aug. 1, 1837. 5. For value received, I promise to pay F. Gould, or bearer, one hundred and forty-three dollars and fifty cents, on demand, with interest - D. FARLING. Dec. 17, 1837, there was indorsed . . . $37°40 July 1, 1838, “ & 4 & 4 . . . . 7-09 Dec. 22, 1839, “ & 4 &c. . . . 13° 13 Sept. 9, 1840, “ “ “ . . . . 50:50 How much remains due Dec. 28, 1840, the interest being 7 per cent.” Ans. $60,866. 6. A note of $486 is dated Sept. 7, 1831, on which, March 22, 1832, there was paid . . . . . $125 Nov. 29, 1832, “ & 4 “. . . . . . . 150 May 13, 1833, “ “ “ . . . . . . 120 What was the balance due April 19, 1834, the interest being 7 per cent. Ans. $144'404. 65. The principal, the rate per cent., the time, and the interest, are so related to each other, that any three of them being given, the remaining one can be found. Problem I. Given the principal, the rate per cent., and the time, to find the interest. The rule for this problem has already been given under Case III., Art. 63; it is equivalent to the following R U L E. Multiply the interest of $1 for the given time and given rate per cent., by the number of dollars in the principal. Problem II. Given the time, the rate per cent., and the interest, to find the principal. By the reverse of the last problem, we obtain this Divide the given interest by the interest of $1 for the given time and given rate per cent. ; and the quotient will be the number of dollars in the principal. 1. The interest on a certain principal for 9 months and 10 days, at 44 per cent., is $1.01605. What was the principal' In this example, we find the interest of $1 for 9 months and 10 days, at 44 per cent., to be $0.035; ... $1.01605, divided by $0.035, gives 29:03 for the number of dollars in the principal required. 2. What principal will, in 1 year, 7 months, and 15 days, at 6 per cent., give $9.75 interest ? Ans. $100. 3. What principal will, in 7 years and 9 days, at 6 per cent., give $16.86 interest? Ans. $40. 4. What principal will, in 3 years and 6 months, at 5 per cent, give $9275 interest? Ans. $530 5. What principal will, in 3 months and 9 days, at 8 per cent., give $90, interest? Ans. $4090-909. Problem III. Given the principal, the time, and the interest, to find the rate per cent. Divide the given interest by the interest of the given principal, for the given time, at one per cent. 1. The interest of $100 for 9 months and 10 days, is $3.50. What is the rate per cent.” In this example, we find the interest of $100 for 9 months and 10 days, at 6 per cent., to be $4.66%. The interest at 1 per cent. is # of $4.66% =$0.77%; therefore, dividing $3.50 by $0.774, we obtain 4} for the rate per cent. required. 2. At what rate per cent. will $530, in 3 years and 6 months, give $9275, interest? Ans. 5 per cent. 3. At what rate per cent. will $19:41, in 1 year, 7 months, and 13 days, give $2.2003394, interest ? Ans. 7 per cent. 4. At what rate per cent. will $5.37, in 4 years and 12 days, give $173272, interest? Ans. 8 per cent. |