Εικόνες σελίδας
PDF
Ηλεκτρ. έκδοση
[ocr errors]
[ocr errors]

AVERAGE CALCULATIONS BY INTEREST.

days.
September 6th $100 X 30 at interest

14th 125 X 38
October 10th 175 x 95
November 14th 340 X 161
January 14th 456 x 281

[ocr errors]

1196 Interest, $34.57 As $11.96 : 60 : : $34.57 = 174 days, nearly being the time required for $1196 to gain $34.57, the whole time by equation from the 6th Sept. to the 27th February.

CASE III.

To average personal accounts when goods are received in

barter. Rule.—Find the average time for the debtor and creditor sides of the accounts, and multiply the least sum by the difference of time, divide the product by the difference of the accounts, and the quotient will be the number of days to be carried forward.

Illustration.-Sold Barton & Co. Philadelphia, merchandise at different dates and credits for $600 due by average 6th September.

Received from Barton & Co. at different times, goods amounting to $1000, due by average on the 6th January, 1841, required the time of payment for the balance due the firm?

From $1000 Least suni $600.

Take 600

400 Difference of time from 6th September to 6th January.

600 x 91

400)546(00

1364 days.

Due by average 136) days from the 6th day of January, which falls due on the 23d day of May.

[blocks in formation]

From the 6th September to the 23d May (average time) is 2271 days, and 600 X 227 = 1000 x 136.3 = 65 0

$22.75 equated interest for Dr. and Cr.

1 3 6 500

CASE V.

ANOTHER METHOD.

1. A. B. purchased merchandise on credit at different times, and is desirous to pay the whole amount at a certain period, required the time by equation? Sales made as per bill rendered.

dolls. days. product. 1840 May 4th $52.00 X 4

8th 13.87 66 x 29 June 6th 104.20 170 X 4

10th 84.16 254 x 34 July 14th 125.04 000 x 0

379)11438(30 Thirty days counted back from July 14th will give the equated time on the 14th of June.

[ocr errors]
[ocr errors]

EXCHANGE.

Q. What is Exchange?

A. It is the paying or receiving money in one country, for its equivalent in the money of another country by means of Bills of Exchange.

Q. What is meant by a Bill of Exchange?

A. A Bill of Exchange is a written order for the payment of money at an appointed time.

Q. Who is the drawer?
A. The maker and seller” of the bill.
Q. Who is the acceptor?

A. The person to whom the bill is addressed, is called the acceptor; when he engages, to pay the bill.

Q. What is meant by endorsing a Bill?

A. When the holder of a bill, disposes of it, he writes his name on the back, which is called endorsing.

Q. Are there other persons occasionally concerned in a Bill of Exchange?

A. Yes, the buyer or remitter, the seller or negociator, and the holder or possessor.

Q. Who should be the first endorser to a Bill?

A. The payee.

Q. What is a draft called, when a Merchant in the U. S. draws on his Banker in London?

A. “Bill on London,” and vice-versa.
Drawee.—The person to whom a bill is addressed.
Payee. The person to whom a billis ordered to be paid,
Indorsee.—The person to whom a bill is made payable,
These are technical terms in law,

18*

A Table of Foreign Gold and Silver Coins which pass current in the United States of America, with their

Federal value, as established by Congress in 1834.

GOLD.

Double Joannes, value in the United States, $32.00 0 An English Guinea or Sovereign, pursuant
Single do.

16.000 to act of Congress,
Half do.

4.00 0 French Guinea, Eighth do.

2.00 0 French Crown, Testoon, or one sixteenth,

1.00 0 Dollar of Spain, Sweden or Denmark, Moidore,

6.00, 0 An English Shilling, Half do.

3.00 0 Spanish Pistareen, Quarter do.

GOLD.

dolls. cts. m

do.

8.00 0 French Pistole, Quarter

1.500 Doubloon

14.93 Å

$4.80

3.77
4.60
1.10
1.00
0.22
0,20

A Table of European Coins reduced to Dollars and Cents.

FRANCE.

SPAIN.

ITALY.

PORTUGAL

cts. n.

cts. m.

cts. m.

cts. m.

Denier, $0.00.08 Maravedie, $0.00.30 Soldi, $0.00.80 Rea,

$0.00.12 Sol, or 12 deniers, 0.00.92 | Rial,

0.10. Chevelet, 0.03.18 Vintin, 0.02.50 Livre Turnois or 20 sols. 18.52 Pistarine, 0.20. Livre,

0.15.92 Testoon, 0.12.50 Ecu or Crown 6 Livres, 1.10.00 | Dollar,

1.00. Testoon,

0.23.88 Crusade of ex. 0.50.00 Pistole 10 livres, 1.85.17 | Ducat of ex. 1.10.18 Croisade, 0.79.60 Milrea,

1.25.00 Louis d'or 4.44.40 | Pistole, 3.60. Perro of ex.

0.92.60 Moidore, 6.00 00 Franc, 0.18.74 Pistarine of ex. 0.80. Genouine,

1.36.12. Joannes,

8.00.00 Five Francs, 0.93.70

Pistole,

3.60.00
DENMARK.

SWITZERLAND.
HOLLAND.

Skilling,
$0.01.94
SWEDEN.

Fenning, $0.00.24 $0.01.94 Duggen,

0.06.24 Stiver, $0.00.72 Cruitzer, 0.00.92 Scalin, 11.64 Marc, 0.16.66 Copper Marc, 0.02.88 Sol,

0.02.77 Guilder or Florin, 38.80 | Rix Marc, 0.20.83 Silver Marc, 0.08.64 Gulden,

0.55.55 Rix Dollar,

97.00 Rix Ort, 0.25. Copper dollar, 0.11.52 Rix dollar, 1.00.00 Ducat, - 2.07.86 | Crown,

0.66.66 Caroline, 0.25.92 Gold ducat, 8.00.00 Rix dollar, 1.00. Rix dollar,

1.03.70 Ducat, 8.83.34 Ducat,

2.07.40

Stiver,

[ocr errors]

211

« ΠροηγούμενηΣυνέχεια »