Rate PER CENT. FOR Months. The decimal expression of the rate for months, when the rate is 6 per cent. a year, is easily obtained; for, if the rate for 12 months be 6 per cent. or .06, for 1 month it is 1 of 6 per cent. which is į per cent. or .005; for 2 months it is 1 per cent. or .01; for 3 months it is 12 per cent. or .015; for 4 months it is 2 per cent. or .02; for 5 months it is 2 per cent. or .025; for a year and 1 month it is 6 per cent. or .065; for a year and 2 months it is 7 per cent. or .07; for a year and 11 months it is 11 , per cent. or .115. 1. If the rate of interest be 6 per cent. for a year, what is the rate for 1 month ? ...... for 6 months ? ...... for 7 months ? ...... for 8 months ? ...... for 9 months? 2. At 6 per cent. a year, what is the rate for a year and 1 month ? ...... a year and 3 months ? ...... a year and 4 months ? ...... a year and 10 months ? Rate Per cent. for Days. Observe, that the rate for 2 months, which is 60 days, is 1 per cent. or .01; and for jo of 60 days, which is 6 days, it is 10 of .01, which is .001. Now since the rate for 6 days is 1-thousandth, the rate for any number of days is as many thousandths as there are times 6 days. Therefore, to find the rate for days, at 6 per cent. per annum, adopt the following RULE. Denote the days as so many thousandths, and divide the expression by 6: the quotient will be the rate. 3. If the rate of interest be 6 per cent. for a year, what is the rate for 1 day ? ...... for 2 days ? ...... for 3 days ? ...... for 4 days ? ...... for 5 days ? ...... for 6 days ? ...... for 7 days ? ...... for 9 days ? ...... for 24 days ? ...... for 26 days? 4. At 6 per cent. a year, what is the rate for 2 months and 12 days ? ...... 3 months and 10 days ? ...... for 5 months and 18 days ? ...... for 10 months and 29 days ? 5. What is the interest, and what the amount of 546 dollars 72 cents, for 4 years 7 months 19 days, at 6 per cent. a year? To find the rate for 4 years, we multi 546.72 ply the rate for 1 year by 4; thus, .06 x .27816 45.24. To find the rate for 7 months, 328032 we multiply the rate for 1 month by 7; . 54672 thus, .005 X75.035. To find the rate 437376 for 19 days, we denote 19 as thousandths, and divide the expression by 6; thus, 109344 .019-6=.00316t. Now the sum of these rates, .24+.035 +.00316== 152.0756352 546.72 .27816, is the rate for the whole time; and by this sum we multiply the principal. 698.7956352 The interest found, is $152.07,5+; which, added to the principal, gives the amount, $698 .79,5+. The rate for 19 days is not exact, as the decimal does not terminate; it is, however, sufficiently near exactness. 6. What is the interest of 148 dollars 92 cents, for 3 years, at 6 per cent. per annum ? : 7. What is the interest of 57 dollars 10 cents, for 5 years, at 6 per cent. a year ? 8. What is the interest of 93 dollars 50 cents, for 4 years, at 6 per cent. a year ? 9. What is the interest of 603 dollars 62 cents, for a year and 9 months, at 6 per cent. a year ? 10. What will 713 dollars 33 cents amount to, in 2 years and 10 months, at 6 per cent. per annum ? 11. What will 1256 dollars 81 cents amount to, in s months, at the rate of 6 per cent. a year? 12. What is the interest of 100 dollars, for 1 year 11 months and 24 days, at 6 per cent. a year? 13. To what sum will 37 dollars 50 cents amount, in 1 year 7 months and 21 days, at 6 per cent. per annum ? 14. What is the interest of 314 dollars 36 cents, for 1 year 1 month and 6 days, at 6 per cent., a year? 15. What is the interest of 37 dollars 87 cents, for 11 months and 15 days, at 6 per cent. a year ? 16. What is the interest of 512 dollars 38 cents, for 7 months and 10 days, at 6 per cent, a year ? 17. To what sum will 691 dollars 28 cents amount, in 1 year and 1 month, at 6 per cent. a year ? 18. What is the amount of 194 dollars 69 cents, for 1 year 5 months and 6 days, at 6 per cent. a year? 19. What will 32 dollars 47 cents amount to, in 9 inonths and 25 days, at 6 per cent. a year ? 20. What is the interest of 217 dollars 19 cents, for 1 year and 17 days, at 6 per cent. a year? 21. What is the amount of 143 dollars 37 cents, for 1 year 9 months and 4 days, at 6 per cent. per annum ? 22. To what sum will 203 dollars 9 cents amount, in 2 years and 19 days, at 6 per cent. per annum ? 23. To what sum will 18 dollars 63 cents amount, in 1 year 10 months and 19 days, at 6 per cent. a year ? 24. What is the interest of 600 dollars, for 7 months and 22 days, at 6 per cent. a year ? 25. What is the interest of 817 dollars 44 cents, for 11 months and 12 days, at 6 per cent. a year ? 26. What is the interest of 155 dollars, for 1 year 2 months and 10 days, at 6 per cent. a year ? . 27. To what sum will 109 dollars 12 cents amount, in 5 months and 8 days, at 6 per cent. a year? 28. What is the amount of 25 dollars 92 cents, for 1 year 4 months and 7 days, at 6 per cent. a year ? 29. To what sum will 65 dollars 48 cents amount, in 1 year 1 month and 18 days, at 6 per cent. a year? 30. What is the interest of 110 dollars 25 cents, for 10 months and 4 days, at 6 per cent. a year ? :. 31. What is the interest of 2814 dollars 70 cents, for 6 months and 3 days, at 6 per cent. a year ? 32. What is the amount of 84 dollars 33 cents, for 8 months and 26 days, at 6 per cent. per annum ? 33. What is the interest of 345 dollars 68 cents, for 7 months and 13 days, at 6 per cent. a year? 34. To what sum will 13 dollars 98 cents amount, in 2 years 4 months and 7 days, at 6 per cent. a year ? 35. What is the interest of 802 dollars 27 cents, for 1 month and 5 days, at the rate of 6 per cent. a year ? 36. What is the interest of 1309 dollars, for 2 months and 3 days, at the rate of 6 per cent. a year? 37. To what sum will 23 dollars 8 cents amount, in 3 years 6 months and 22 days, at 6 per cent. a year ? 38. What is the interest of 2538 dollars 17 cents, for 3 months and 28 days, at the rate of 6 per cent. a year? 39. What is the amount of 1800 dollars 34 cents, for 1 year and 2 days, at 6 per cent. a year? 40. What is the interest of 199 dollars 15 cents, for 1 year and 23 days, at 6 per cent. a year? 41. To what sum will 49 dollars 5 cents amount, in 1 year 2 months and 3 days, at 6 per cent. a year ? 42. What is the interest of 201 dollars 50 cents, for 7 years, at 6 per cent ? 43. What is the interest of 3010 dollars 75 cents, for 3 months and 1 day, at the rate of 6 per cent. a year? 44. To what sum will 41 dollars 6 cents amount, in 1 year 5 months and 14 days, at 6 per cent. a year ? 45. What is the amount of 50 dollars and 11 cents, for 1 year and 21 days, at 6 per cent. a year ? 46. What is the interest of 1100 dollars for a year and 15 days, at 6 per cent. a year ? 47. What is the interest of 9 dollars 39 cents, for 1 year and 27 days, at 6 per cent. a year? 48. What is the interest of 80 dollars, for 1 year 5 months and 12 days, at 6 per cent a year ? 49. What is the interest of 90 dollars, for 1 year 2 months and 6 days, at 6 per cent. a year ? 50. To what sum will 55 dollars amount, in 3 years and 9 days, at 6 per cent. a year? 51. What is the amount of 4119 dollars 20 cents, for 1 year and 5 days, at 6 per cent. a year? To compute interest by Days, when the rate is 6 per cent. per annum. RULE. Multiply the principal by the number of days, and divide the product by 6. The quotient is the interest in mills, when the principal consists of dollars only; but when there are cents in the principal, cut off two figures from the right of the quotient, and the remaining figures will express the mills. . This rule like the rule for finding the per cent. for days— is based upon the supposition of 360 days to the year; and, since the year contains 365 days, the rule gives a part more than a true six per cent. interest. 52. What is the interest of 86 dollars, for 20 days, at 6 per cent. a year ? 53. What is the amount of 108 dollars, for 25 days, at 6 per cent. a year? 54. What is the interest of 204 dollars, for 40 days, at 6 per cent. a year? 55. What is the interest of 1000 dollars, for 29 days, at 6 per cent. a year ? 56. What is the amount of 98 dollars 60 cents, for 35 days, at 6 per cent. a year? 57. What is the interest of 250 dollars, for 18 days, at 6 per cent. a year ? 58. What is the interest of 61 dollars 25 cents, for 28 days, at 6 per cent. a year ? 59. What is the amount of 215 dollars 78 cents, for 50 days, at 6 per cent. a year? 60. What is the interest of 71 dollars, for 41 days, at 6 per cent. a year ? 61. What is the interest of 3333 dollars, for 10 days, at 6 per cent. a year ? 62. What is the amount of 37 dollars 53 cents, for 16 days, at 6 per cent. a year ? 63. What is the interest of 91 dollars 80 cents, for 57 days, at 6 per cent. a year? 64. What is the interest of 4109 dollars, for 18 days, at 6 per cent. a year? 65. What is the amount of 5214 dollars, for 50 days, at 6 per cent. a year ? 66. What is the difference between the interest of $ 1000 for 1 year, computed by the year, and the interest on the same sum for the same time, computed by days; both at 6 per cent. ? It will be observed, that, in all the preceding examples, the rate of interest has been 6 per cent. per annum. The method of computing interest at any other rate per cent. is the same, and equally simple, when the time consists of years only; but when there are months and days in the time, and the rate per cent. per annum is other than 6, it will frequently be convenient to find the interest for a |