9. A gentleman had a daughter married on the day she was 18 years old, to whom he gave a note dated on the day she was born, and amounted then to 5200 dols. at 6 per cent. per annum, how much was the principal ? Ans. 2500 dols. 10. What is the amount of a cent, for 1809 years, at 6 per cent. per annum ? Ans. dols. 108,55.

COMPOUND INTEREST.

Compound Interest is an allowance for the forbearance of the principal and interest taken together, i. e. when the interest is not paid at the stipulated time, it is added to the principal, and their sum becomes a new principal, &c.

To find the compound interest of a sum for several years.

RULE. Calculate the interest for 1 year, as in the first case of Simple Interest; add this interest and its principal together, which is the principal for the second year; calculate its interest as above, and add this interest, to its principal, their sum will be the principal for the third year.

Go through as many such calculations as there are year's interest required; add the last interest found to its principal, their sum will be the whole amount of principal and interest; from the amount subtract the first principal given, the difference will be the whole interest required.

EXAMPLES.

I What is the amount of £736 11 6, for 3 years, at 6 per cent. per annum, Compound Interest?

2. Required the compound interest of dols. 725,50, for 2 years, at 6 per cent. per annum.

$725,50 principal for 1st. year.

Ans. $89,67,1,8 Compound Interest for 2 years.

3. What is the compound interest of 680 dols. for 4 years, at 6 per cent. per annum ? Ans. $178,48,3. 4. What is the compound interest of dols. 637,25, for 5 years, at 5 per cent. per annum ?

Ans. 176,06. 5. What is the amount of dols. 597,75 for 20 years, at 6 per cent. per annum, compound interest?

Ans. dols. 1917,07,7.

6. What will: 1350 dols. amount to in 3 years, at 5 per cent. per annum, compound interest?

Ans. dols. 1562,79,3.

BARTER.

Barter is the exchanging one kind of goods for another without loss or gain to either party; questions in this rule are solved by finding what quantity of one kind of goods, at a given price, is equal in value to a given quantity of another kind, the price of the latter also being given.

N

Questions of this kind are proved by varying their.

order.

EXAMPLES.

1. How much sugar at 9d. per lb. must be given in barter for 6 cwt. of tobacco, at 14d. per lb ?

9)

2. How much tobacco at 14d. per lb. must be given in barter for 10C. Oqr. 123 lb. of sugar, at 9d. per lb ?

cwt. 10 0 124 4

14) 28) 4)

14: 1 :: 10192(728(26

40

28

1132

9

10192

This proves the first example.

3. What quantity of tea at $1,20 per lb. must be given in barter for 1 cwt. of chocolate, at 32 cents per lb?

120

Ans. 29404 lb. 4. How much rice at 28s. per cwt. must be given in barter for 34 cwt. of raisins at 5d. per lb?

Ans. 5C. 3qrs. 91lb.

5. A man bought a lot of goods, for which he gave 1000 dols. in money, and 5 cwt. of tobacco, at 10 cents per Ib. ; what was the value of the lot of goods?

Ans. 1056 dols.

6. A man bought a lot of goods, for which he gave 12cwt. of tobacco, at 15 cents per lb. 24 cwt. of sugar, at 12 cents per lb. and paid the remainder in money; the whole value of the goods was 9000 dols. how much money did he pay? Ans. $8475,84. 7. A merchant bartered 7 cwt. of rice, at 28s. per cwt. for 4 cwt. of raisins, at 6d. per lb. and paid the balance in money, how much money did he pay ?

Ans. 1 8. 8. A merchant delivered 3 hogsheads of wine, at $1,10 per gallon, for 126 yards of cloth; what was the cloth per yard? Ans. $1,65. 9. A and B bartered: A had 12 cwt. of sugar worth 8 cents per lb. for which B gave him 14 cwt. of cinnamon; what did B value his cinnamon at per lb? Ans. 54 cents, and 168.

( 10. A has linen cloth worth 40 cents ready money, but in barter he will have 48 cents per yard; B has broadcloth worth 2 dols. per yard, in ready money, which he is minded to barter with A for his linen, what ought the broadcloth to be per yard, in barter for the linen? Ans. dols. 2,40. 11. A had 41 cwt. of hops at dols. 6,70 per cwt. for which B gave him 17 C. 3 qrs. 4 lb. of prunes, and 88 dols.; what was the prunes valued at per lb?

1992

Ans. cts. 9-742. 12. A has candles worth 12 cents per lb. ready money, but in barter he will have 13 cents; B has cotton worth 18 cents per lb. ready money; what ought the cotton to be per lb. in barter, and how much must be given of the cotton for 1200lb. of the candles?

Ans.

The cotton must be in barter 19 cents, and 7C..