2. At 6 per cent., what is the interest of $1 for 8 months?

3. At 6 per cent., what is the interest of $1 for 9 months? For 10 months? For 11 months?

4. At 6 per cent., what is the interest of $1 for 14 months? For 15 months? For 18 months?

INTEREST OF $1 FOR DAYS.

245. Since the interest of $1 for 1 mo. (30 d.) is 5 mills, (Art. 243,) or $.005;

That is, the interest of $1 for every 6 days, is 1 mill, or $.001; and for any number of days, it is as many mills, or thousandths of a dollar, as 6 is contained times in the given number of days. Hence,

246. To find the interest of $1 for any number of days, at 6 per cent.

Divide the given number of days by 6, and set the first quotient figure in thousandths' place, when the days are 6, or more than 6; but in ten thousandths' place, when they are less than 6.

5. What is the interest of $1 for 1 day, at 6 per cent. expressed decimally? Ans. $.000166+ 6. What is the interest of $1 for 9 days, at 6 per cent.? 22 days? 4 days? 14 days?

7. What is the interest of $1 for 10 days, at 6 per cent.? 16 days? 20 days? 24 days? 27 days? 28 days? 30 days?

QUEST.-246. How may the interest of $1 be found for any number of days, at 6 per cent. ?

8. What is the interest of $1 for 1 year, 5 months, and at 6 per cent.?

3 days,

Solution. For 1 year, the interest of $1 is $.06

66 5 months,

"3 days,

9. What is the interest of $1 for 2 years, 7 months, and

20 days, at 6 per cent. ?

10. What is the interest of $1 for 3 years, 1 month, and 15 days, at 6 per cent. ?

11. What is the interest of $145 for 6 months and 24. days, at 6 per cent.?

Operation.

$145 Prin. .034 Int. of $1 for the time.

The interest of $145 is 145 times as much as the interest of $1 for the given time. We therefore first find the interest of $1 for the given time, which is $.034; then multiply the principal by it and point off 3 figures for decimals in the product. (Art. 191.)

580

435

$4.930 Ans.

247. From these illustrations we may derive a

SECOND RULE FOR COMPUTING INTEREST.

First find the interest of $1 for the given time, at 6 per cent.; (Arts. 244, 6;) then multiply the principal by the interest of $1 for the time, and point off the product as before. (Art. 241.)

OBS. 1. The interest at any other rate, greater, or less than 6 per cent. may be found by adding to, or subtracting from the interest at 6 per cent., such a fractional part of itself, as the required rate exceeds or falls short of Thus, if the required rate is 7 per cent., first find the interest at 6 per cent., then add of it to itself; if 5 per cent., subtract of it from itself, &c.

per cent.

2. When it is required to compute the interest on a note, we must

QUEST.-247. What is the second method of computing interest? Obs. When the rate per cent. is greater or less than 6 per cent., how proceed? How compute the interest on a note?

first find the time for which the note has been on interest, by subtracting the earlier from the later date; (Art. 170. Obs. 2 ;) then cast the interest on the face of the note for the time, by either of the preceding methods. (Arts. 241, 247.)

13. What is the interest of $300 for 4 months and 18 days, at 7 per cent.?

14. At 5 per cent., what is the interest of $256.25 for 9 months and 15 days?

15. What is the interest of $450 from Jan. 1st, 1844, to March 13th, 1845, at 6 per cent. ?

1. What is the interest of $45.25 for 8 months, at 6 per cent.?

2. What is the interest of $167.375 for 6 months, at 6 per cent. ?

3. What is the interest of 93.86 for 3 months and 15 days, at 6 per cent. ?

4. What is the interest of $110 for 1 month and 20 days, at 6 per cent.?

1

5. At 7 per cent., what is the interest of $158.91 for year and 3 months?

6. At 7 per cent., what is the amount of $217 for 1 year and 8 months?

2

7. At 6 per cent., what is the amount of $348.10 for years and 1 month?

8. At 7 per cent., what is the interest of $400 for 1 year and 6 months?

9. At 7 per cent., what is the amount of 213.01 for 9 months?

10. At 5 per cent., what is the amount of $603 for 2 years and 5 months?

11. What is the amount of $861 for 8 months and 24 days, at 6 per cent. ?

12. What is the amount of $1236 for 3 months and 14 days, at 7 per cent.?

13. What is the interest of $1400 for 1 year, 1 month, and 9 days, at 7 per cent.?

14. What is the interest of $469.20 for 27 days, at 8 per cent. ?

15. What is the amount of $705 for 5 years, at 9 per cent.?

16. What is the amount of $1000 for 10 years, at 5 per cent.?

17. What is the amount of $1650.06 for 20 years, at 7 per cent. ?

18. What is the amount of $2500 for 7 years, at 15 per cent.?

19. At 4 per cent., what is the interest of $17000 for 11⁄2 years?

20. At 74 per cent., what is the interest of $1625.81 for 45 days?

21. At 121 per cent., what is the amount of $165.13 for 33 days?

22. At 7 per cent., what is the amount of $8531 for 63 days?

23. At 6 per cent., what is the amount of $16021 for 93 days?

24. What is the interest on a note of $65, dated Jan. 10th, 1844, to May 16th, 1845, at 6 per cent.?

25. What is the interest of $170 from June 19th, 1840, to July 1st, 1841, at 7 per cent?

26. What is the interest of $105.63 from Feb. 22d, 1839, to Aug. 10th, 1840, at 5 per cent.?

27. What is the interest of $234 from April 10th, 1834, to Oct. 1st, 1835, at 6 per cent. ?

28. What is the interest of $195.22 from June 25th, 1838, to March 31st, 1840, at 6 per cent.?

29. What is the interest of $391 from Sept. 1st, 1840, to Nov. 30th, 1841, at 8 per cent.?

30. What is the interest of $510.83 from March 21st, 1842, to Dec. 30th, 1842, at 7 per cent. ?

31. At 6 per cent., what is the interest of $469.65 from August 10th, 1843, to Feb. 6th, 1844?

32. At 7 per cent., what is the amount due on a note of $285, dated March 15th, 1841, and payable Sept. 18th, 1845?

33. At 6 per cent., what is the amount due on a note of $391, dated Oct. 9th, 1844, and payable March 1st, 1845?

34. At 5 per cent., what is the amount of $623 from Feb. 19th, 1844, to Aug. 10th, 1845?

35. At 4 per cent., what is the amount of $589.20 from Jan. 10th, 1844, to Jan. 13th, 1845?

36. At 4 per cent., what is the amount of $731.27 from July 1st, 1844, to April 4th, 1845 ?

37. What is the interest of $849 from July 4th, 1841, to July 7th, 1845, at 6 per cent. ?

38. What is the interest of $966 from Jan. 1st, 1842, to March 20th, 1844, at 7 per cent. ?

39. What is the interest of 1539 from May 21st, 1842, to Aug. 19th, 1843, at 6 per cent. ?

40. What is the amount of $1100 from June 15th, 1840, to Aug. 3d, 1845, at 5 per cent.?

41. What is the amount of $1 for 50 years, at 6 per ct. ? At 7 per cent.?

42. What is the amount of 1 cent for 500 years, at 7 per cent.?