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7. Two men, A and B; lay out equal sums of money in trade ; A gains 126l. and B loses 871. and A's money is now double to B's; what did each lay out ?

Anz. £300. 8. A farmer having driven his cattle to market, receive ed for them all 1301. being paid for every ox 71. for every cow 5l. and for every calf 11. :0s. there were twice as many cows as oxen, and three t.mes as many calves as cows; how many were there of each sort ?

Ans, 5 oxen, 10 cows, and 30 çalves. 9. A, B, and C, playing at cards, staked 324 crowns; but disputing about tricks, each man took as many as he could : A got a certain number; B as many as A and 15 more ; C got a 5th part of both their sums added together; how many did each get?

Ans. A goi 1271, B 1421 C 54.

PERMUTATION OF QUANTITIES, Is the showing how many different ways any given num ber of things may be changed.

To find the number of Permutations or changes, that can be made of any given number of things, all differ: ent from each other.

RULE. Multiply all the terms of the natural series of numa bers, from one up to the given number, continually together, and the last product will be the answer required.

EXANIPLES.

ас

1. How many changes can be

1 a b c made of the first three letters of

2 cb the alphabet ?

3 Proof,

4 | bca

5/cba 1 X2 X3=6 Ansi

6 | cabo 2. How many changes may be rung on nine bells?

Ans. 362880.

3. Seven gentlemen met at an inn, and were so well pleased with their host, and with each other, that they agreed to tarry so long as they, together with their host;. could sit every day in a different position at dinner ; how long must they have staid at said inn to have fulfilled their agreement ?

Ans. 110375 years.

ANNUITIES OR PENSIONS

COMPUTED AT.
COMPOUND INTEREST.

CASE I.
To find the amount of an annuity, or pension, in arrears,

at Compound Interest.

RULE. 1. Make 1 the first term of geometrical progression, and the ainount of $1 or £1 for one year, at the given rate per cent. the ratio.

2. Carry on the series up to as many terms as the given number of years, and find its sum.

3. Multiply the sum thus found, by the given annuity, and the product will be the amount sought.

EXIMPLES.

1. If 125 dols. yearly rent, or annuity, be foreborne, (or unpaid) 4 years ; what will it amount to at 6 per cent. per annum, compound interest ?

1+1,06+1,1236+1,191916=4,374616 sum of the series.* -Then, 4,374616 X 125=$546,827 the amount sought.

OR BY TABLE II. Multiply the Tabular number under the rate and opposite to the time, by the annuity, and the product will be the amount souglıt.

*The sum of the series thus found, is the amount of 1l. or 1 collar ananity, for the given time, which may be found in Table Il. ready calculated.

tlence, either the aniount or nt worth of annuities may be readily found by 'Tahies for that purpose

2. If á salary of 60 dollars per annum to be paid yearly, be forborne twenty years, at 6 per cent; compound interest ; what is the amount ?

Under 6 per cent, and opposite 20, in Table II, you will find, Tabular number=36,78569

60 Annuitý.

Ans. $2207,13540=$2207, 13cts. 51a. + 3. Suppose an Annuity, of 1001. be 12 years in arrears, it is required to find what is now due, compound interest being allowed at 5l. per cent. per annum?

Ans. £1591 14s. 3,024d. (by Table II.) 4. What will a pension of 120l. per annum, payable yearly, amount to in 3 years, at 5l. per cent. compound interest ?

Ans. 6378 68.

II. To find the present worth of Annuities at Compound

Interest.

RULE.

Divide the annuity, &c. by that power of the ratio, signified by the number of years, and subtract the quotient from the annuity : this remainder being divided by the ratio, less 1, the quotient will be the present value of the Annuity sought:

ÉXAMPLES.

1. What ready money will purchase an Annuity of BOL to continue 4 years, at 5l. per cent. compound interests

alho of} =1,215506)50,00000(41,13513+
the ratio,
From 50
Subtract 41,13513

Divis. 1,05~1.=05)8,86487

177,297=£177 55. 111d. AN:

BY TABLE III.
Under 5 per cent. and even with 4 yeary.

We have 3,54595=present worth of 11, for 4 years. Multiply by 50=Annuity.

Ans. £177,29750=present worth of the annuity.

2. What is the present worth of an annuity of 60 dols. per annum, to continue 20 years, at 6 per cent. compound interest ?

Ans, $688, 19 cts.+ 3. What is 301. per annum, to continue 7 years, worth in ready money, at 6 per cent. compound interest?

Ans. £167 9s. 5d. + III To find the present worth of Annuities, Leases, & cm

taken in REVERSION, at Compound Interest, 1. Divide the annuity by that power of the ratio deno. ted by the time of its continuance.

2. Subtract the quotient from the Annuity : Divide the remainder by the ratio less 1, and the quotient will be th present worth to commence immediately.

3. Divide this quotient by that power of the ratio denoted by the time of Reversion, (or the time to come before the Annuity commences) and the quotient will be the present worth of the Annuity in Reversion.

EXAMPLES 1. What ready money will purchase an Annụity of 501. payable yearly, for 4 years : but not to commence till two years, at 5 per cent. ? 4th power of 1,05=1,215506)50,00000(41,13513

Subtract the quotient=41,13513

Divide by 1,05_13,05)8,86487 2d. Power of 1,05=1,1025)177,297(160,8136= £160 16s. 3d. 1 qr. present worth of the Annuity in Reversion.

OR BY TABLE III. Find the present value of ll. at the given rate for the vum of the time of continuance, and time in reversion added together ; from which value subtract the present worth of Il. for the time in reversion, and multiply the remainder by the Annuity; the product will bw the answer.

Thus in Example 1.
Time of continuance, 4 years.
Ditto of reversion, 2

The sum,

—6 years, gives 5,075692 Time in reversion, =2 years, 1,859410

Romainder, 3,216282 x 50

Ans. £160,8141. 2. What is the present worth of 75l. yearly rent, which is not to commence until 10 years hence, and then to continue

years
after that time at 6 per cent?

Ans. £233 158. 9d 3. What is the present worth of the reversion of a lease of 60 dollars per annum, to continue 20 years, but not to commence till the end of 8 years, allowing 6 per cent. to the purchaser?

Ans. $431 78cts. 2;%m. Iy. To find the present worth of a Freehold Estate, or an Annuity to continue forever, at Compound Interest.

RULE. As the rate per cent. is to 100l. : so is the yearly rent to the value required.

1. What is the worth of a Freehold Estate of 40l. per annum, allowing 5 per cent to the purchaser ?

As £5 : £100: ; £40 : £800. Ans. 2. An estate brings in yearly 1501. what would it sell for, allowing the purchaser 6 per cent. for his money?

Ans. £2500. V. To find the present worth of a Freehold Estate, in Reyersion, at Compound Interest.

RULE. 1. Find the present value of the estate (by the foregoing rule (as though it were to be entered on immediately, and divide the said value by that power of the ratio denoted by the time of reversion, and the quotient will be the present worth of the estate in Reversion.

EXAMPLES.

EXAMPLES.

1. Suppose a freehold estate of 40l. per annum to come mence two years hence, be put on sale; what is its value, allowing the purchaser 5l. per cent, ?

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