1 yr. 8 mo.?-150. For 4 yrs. 2 mo.2-375. For 6 yrs. 6 mo. 685. A. $1365. 6. What is the amount of $75 for 2 yrs. 6 mo. ?-8625. Of $250?-28750. Of $800 ?-920. Of $95-10925. Of $650? 74750. A. $2150,50. 7. What is the amount of $615,75 for 5 yrs. ?-800475. For 11 yrs. 1 mo. ?-1025223. For 7 yrs. 2 mo. ?-880522. A. $2706,22+ 8. What is the interest of $7650 for 3 yrs. 3 mo. ?-149175. For 3 yrs. 4 mo.?-1530. For 6 yrs. 6 mo.?-298350. For 2 yrs. 2 mo. ?-99450. A. $6999,75. 9. What is the amount of $7,50 for 10 yrs. 1 mo. ?-12037, For 2 yrs. 3 mo. ?-8512. For 1 mo.?-7537. For 11 mò.?7912. For 1 yr. 7 mo. ?-8212. A. $44,21+.. LXII. Since days are always either 30ths of a month, or some greater part, as halves, 3ds, 4ths, 5ths, &c.; thus, 1 day=zff; 2 days= , which, being reduced to its lowest terms, is; 3 days, or +f; 5 days, or ; 20 days=8, or ; it follows, that, if these part be diminished in the same proportion as the months, that is, if half the fra tional part be taken for a multiplier, the product will express the interest fo the days in cents, or 100ths, which, divided by 100, as before, will be the in terest required. To halve any thing, we divide by 2. Note.-It will be recollected, that, to divide a fraction by 2, we can Multiply the denominator, or divide the numerator. 1. What is the interest of $60 for 15 days? What is the interest of $24 for 10 days?" = $60 Ans. $,04 $120,60 $360,60 # What is the interest of $120,60 for 20 days? 4 What is the interest of $360,60 for 19 days? 19 days= }} mo. +2=£8, multipleir. Ans. $1,14,1 Hence, to find the interest of any sum for days, we have the following RULE. Q. How do you proceed first? A. I find what fractional part of a month the days are, and reduce the fraction to its lowest terms. Q. What do you make the multiplier ? A. Half of this fraction. Q. How do you halve the fraction? A. Halve the numerator, or double the denominator Q. After you have multiplied by the fraction, what is to be done with the product, to get the interest? A. Cut off two figures, as before. Mental Exercises. 1 What is the interest of $120 for 15 days? 2. Interest of $60 for 15 days? A. 15 cts. A. 10 cts. 3. Interest of $18 for 20 da.? A. 3 cts. A. 30 cts. For 10 da. ? A. 6 cts. For 10 da.? 4. Interest of $120 for 1 da.? A. 2 cts. For 2 da.? A. 4 cts. 5. Interest of $60 for 3 da.? A. 3 cts. For 6 da.? A. 6 cta Exercises for the Slate. What is the interest of $1200 for 2 da.? What is the interest of $600 for 20 da.? Ans. $2,00 A. $6. 3. What is the interest of $2400 for 15 da.? For 3 da. 1 For 15 dal 7. What is the interest of $120 for 8 yrs. 4 mo. 15 da, $120 the muitiplier for the days and months is 50%. 6000 30 Ans. $60,30 8. What is the interest of $1200,60 for 1 yr. 10 mo. 24 da.? $1200,60 1 vr. 10 mo.=22+2=11 mo.; and 24 da. ?f=1 1320660 48024 Ans. $136,868 m. Note. When the days are an even rumber, it will oftentimes be found convenient to find what fractional part of a month half the days will be, without malving the fraction afterwards; thus, for 20 days, take 10 days=}}=}, the multiplier. 9. What is the interest of $180 for 29 days? A. 87 cts. 10. What is the amount of $180,60 for 2 yrs. 4 mo. 20 da.? A. $206,486. 11. What is the amount of $36,60 for 2 yrs. 1 mo. 5 da.? A. $41,205. 12. What is the interest of $300 for 1 yr. 6 mo. 15 da.?2775 For 2 yrs. 6 mo. 15 da. ?-4575. For 3 yrs. 4 mo. 10 da. ?6050. For 4 yrs. 4 mo. 5 da. ?-7825. A. $212,25. 13. What is the interest of $600,50 for 2 yrs. ?-7206. For 1 yr. 8 mo. ?-6005. For 2 yrs. 8 mo. 1 da. ?-9618. For 5 yrs. 7 mo. 12 da. ?-202368 For yrs. 4 mo. 4 da. ?-30065. A. $731,308. 14. What is the interest of $700 for 1 yr. ?-42. For 6 mo. 2275. For 4 mo. ?-14. For 20 da. ?-2333. A. $81,083. 15. What is the amount of $60000 for 3 da. ?-60030. For 8 da. ?-60080. For 9 da.?-60090. A. $180200. 16. What is the interest of $60 for 2 mo. 1 da.?-61. For mo 2 da. ?-62. For 2 mo. 3 da.?-63. A. $1,86. 17. What is the interest of $60 for 2 mo. 7 da.?-67. For 2 ino. 8 da. ?-68. For 2 mo. 12 da. ?-72. A. $2,07. 18. What is the interest of $1200 for 12 yrs. 11 mo. 29 da? A. $935,80. The foregoing example, although it is as difficult a one as usually occurs, b mired by one third of the usual number of figures required by other methods. LXIII. It is evident, that, when the rate is either more or les than 6 per cent., the interest for the given rate will be a certain part of 6 per sent.; thus, 5 per cent, will be as much as 6 per cent., 4 per cent. ↑ as much, 7 per cent. Z as much, &c. To get, of any number, we multiply by the numerator, and divide by the denominator; and, as the denominator will always be 6, and the numera for the given rate, hence, To find the interest of any sum, when the rate is not 6 per eent., we have the following Q. How do you proceed? RULE. A. Find the interest for 6 per cent. as before. A. Multiply the interest of 6 per cent. by the given rate, and always divide by 6. 1. What is the interest of $600 for 1 yr. 2 mo. and 15 days, at 5 per cent.? 600 4200 150 4350 int. at 6 per cent. 6) 21750 Ans. $36,25 int. at 5 per cent. 2. What is the interest of $240 for 2 yrs. 6 mo. at 1 per cent.?6. At 2 per cent. ?-12. At 4 per cent. ?-24. At 6 per cent.?36. At 10 per cent.?-60. At 5 per cent. ?-33. A. $171. 3. What is the interest of $480 for 3 yrs. 2 mo,, at 15 per cent.?-228. At 20 per cent. -304. At 104 per cent.?-16340. At 15 per cent. -23560. At 7 per cent. -10640. A. $1037,40. 4. What is the interest of $600 for 15 mo., at 23 per cent. ?20625. At 3 per cent. ?-28125. A. $48,75. 5. What is the interest of $600 from January 1st to March 1st?-6. From January 15th to May 15th-12. From January 15th to September 15th ?-24. A. $42. 6. What is the amount of $500 from March 10th, 1824, to March 10th, 1827?-590. From March 29th, 1820, to March 29th, 1826-680. From March 16th, 1820, to March 16th, 182 ? 620. A. $1890. 7. What is the interest of $60 from June 1st, 1826, to No vember 1st, 1827-510. From April 1st, 1825, to August 16th, 1826-495. From July 4th, 1825, to August 19th, 1828 ?-1125. A. $21,30. 8. What is the interest of $300 from September 5th, 1825, to September 25th, 1826-1. From August 9th, 1826, to Decem er 24th, 1827 ?-2475. A. $25,75. 9. What is the amount of $180 from October 1st, 1826, to December 1st, 1830? A. $225. ¶ LXIV. A concise and practical Rule for the State of New York, in which the interest is established by law at 7 per cent. It has been remarked, that 7 per cent. is of 6 per cent.; that is, more than 6 per cent.: hence, Q. To find the interest at 7 per cent., what is the ៖ RULE ? A. Add of the interest, at 6 per cent. (found as before), to itself; the sum will be the interest at 7 per cent. Note. The interest for any rate per cent. may be found in the same manaer, by subtracting, when the given rate is under 6 per cent., and adding, when is more. 1. What is the interest of $360 for 20 days, at 7 per cent.. 2. What is the interest of $60 for 2 yrs. 4 mo., at 7 per cent.? 4. $9,80. 3. What is the amount of $120,60 for 1 yr. 6 mo. 10 da., ▼ per cent.? A. $133,497 m |