N. B. Becaufe there are 4 decimals in the multiplicand and multiplier, I cut off 4 figures for them, and two more according the`rule.

PROB. 5. When the principal is federal money, and the monthly intereft is required in the fume, at 6 per cent. per annum.

RULE. Separate the two right hand figures of the dollars, and you then have the intereft of 2 months; half of which is the monthly intereft in dollars, cents, &c. If there is but one place, or figure, of dollars, a cypher must be prefixed to the left hand.

EXAMPLES.

1. What is the monthly intereft of 9D. 59c. 7m. at 6 per cent. per annum ?

2),09597 c. m.

,047985-4,8 nearly, Ans.

2. What is the monthly intereft of 100D. 5cc. 5m.?) 2)1,00505 c. m.

,5025250,2 Anf.

Rules for calculating Intereft for Days.

on the

RULE D. Multiply the given principal by the given. number of days, and that product by the rate pound; divide the laft product by 365, and it will give the intereft.

EXAMPLE.

What is the intereft of 360l. 10s. for 175 days, at 6 per cent.?

360,5X175X,06

365

=£10,37=10l. 7s. 41d. Anf.

KULE 2. Multiply the given principal by the given number of days, and divide the product by 6083, for 61. per cent. the number "of days, in which any fum

will double, at that rate, the quotient will give the anfwer.

EXAMPLE.

What is the intereft of 3271. 10s. at 6 per cent. per annum, for zic days?

327,5X210

6033

=£11,356=111. 6s. Anf.

Rule for making a Divifor for any rate per cent.

Multiply 365 by 100, and divide the product by the

Hence, when intereft is to be calculated on cafh accounts, accounts current, or any other accounts, where partial payments are made, or partial debts are contracted; multiply the feveral balances into the days they are at intereft, and the fum of these products, divided as above, will give the intereft at 51. or 61. per cent. and for any other rate, make the proper addition or deduction : er find a divifor, as before directed.

2

EXAMPLE.

On the 1st of January I lent £450 10 6, which I received back in the following partial payments, viz. on the 15th of January. £57 119; on the 7th of February,

393 10; on the 19th of March, 635 2; on the 4th of April, £45; on the 26th of April, 19 126; on the 12th of May, 100; on the Icth of June, 60 7 3; and on the first of Auguk, £65 10; what interest is due at 6 per cent. ?

Dates.

Dates.

Days. £. 3 d

Products £ S.

Jan. Lent on demand 4510 614 6307 70 15 Received in part 551 9

Balance 245 9 9.22 5400 146 (

Ditto 26 Received in part 1926

Balance 2257316 3613 16

O

May 12 Received in part 10c0

Balance 12517 329 3650 03

June 1 Received in part 607 3

I have given Peter Trufty a cash credit for 1000 in confequence of which, on the 12th of May, I paid his bill for 250l. ; ditto 27th paid his draught for 2801; June 1st he gave me a bill on the Maffachusetts bank, at fight, for 290l.; July the 17th he paid me per receipt 70l.; August 20th he drew for 750l. at fight; ditto 31ft he paid me per receipt, 500l.; September 15th he drew at fight for 1351.: and 3d of October for 175). ; October 29th he paid me per receipt, 250l. ; and November 3d 1251.; November 12th he drew at fight for 3751. and ditto 18th for 1251.; January 1ft he paid

me

12 Paid his bill

27 Paid his draught

me per receipt 2901 and 20th ditto 210l. ; on the ift of March following he demands a fettlement; what is then due to me, interest at 6 per cent.

Dates May Ditto

Then,

7300)156530

5)21 8 10 Int. at 51. per cent per annum.

4 5 10 add.

25 14 8 Int. at 6 per cent. on faid account. 355 Balance of the account

£380 14 8 Total balance in my favour.

When cafh credits are given, a balance should be made upon every tranfaction, which should be multiplied into the days, the firft leifure minute: then when the time of fettlement comes, you will only have to add up the products, and divide as above, aud the account will be finished.

A owes B the following fums, with the intereft on them at 6 per cent per annum, as follows, viz. 6ol. for 7 months; 150l. for 5 months; 751. 10s. for 9 months? 1451 158. for 7 months, and 3971 12s. for 4 months what is the amount of principal and interest ;