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6. A merchant sold goods on the following terms: payable in 2 months, in 3 months, in 5 months, and the balance in 6 months. What was the average term of

credit?

7. Equate the following payments: $580.75 due in 30 days, $650.25 due in 60 days, $450.36 due in 90 days, and $600 due in 5 months.

8. On the 1st of May a merchant bought goods amounting to $1500, agreeing to pay for them as follows: $521.35 on the 10th of June, $398.84 on the 16th of July, $199.60 on the 15th of August, and the balance on the 1st of September. Upon what date can he pay the whole amount?

9. Jacob Amos sold a bill of flour amounting to $2500, payable as follows: $500 due in 4 months, $600 due in 5 months, and the balance due in 6 months. What was the equated time?

10. A purchased a farm for $3000, agreeing to pay for it as follows: $500 cash, $600 in 5 months, $1000 in 8 months, and $400 in 1 year. He decides to give a note for the whole amount. When was the balance to be paid?

323. When the terms of credit begin at different dates. 1. A purchased goods of Dey Bros. & Co., as follows:

Jan. 8, 1895.
Feb.
16, 1895.

April 4, 1895.

Find the average time.

$200 on 2 months' credit.

$400 on 3 months' credit.

$300 on 4 months' credit.

NOTE. - First find the date when each item is due.

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The first debt is due March 8, and the last Aug. 4. time, therefore, will be between these dates.

$200 due March 8 has no longer time to run.
$400 due May 16 has 69 days after March 8.

$300 due Aug. 4 has 149 days after March 8.

The average

A is therefore entitled to a credit of $1 for 72300 da. after March 8, which is equal to a credit of $900 for 80 da. after March 8.

Rule. Find the date on which each debt becomes due, and

using the earliest of these as a standard date, reckon the time to each of the others.

Multiply each debt by its time, and divide the sum of the products by the sum of the debts.

The quotient will be the average term of credit, which add to the standard date to find the average time.

2. Four notes are due as follows: March 4, $165; April 15, $325.50; May 9, $94; June 6, $465. What is the average date of payment?

3. A retail dealer bought the following bills of goods on 4 months' credit: April 4, $480; April 26, $185.65; June 1, $480.16; July 6, $196. What is the average time for payment?

4. Bought goods as follows: Jan. 1, $250 at 3 mo.; Feb. 1, $500 at 4 mo.; March 11, $106 at 60 da. What is the average date of payment?

5. Mr. B owes $1000, due in 5 months; in 2 months he pays $600. How long after the expiration of the 5 months should the remainder be paid?

SOLUTION. $600 has been paid 3 months before due, which equals a credit of $1 for 1800 months. credit for $400 after it is due.

He is entitled to a like of 1800 mo. = 4 months. Ans,

6. A lady purchased a piano for $500 on 6 months' credit. If she pays $200 cash, how long after the expiration of the 6 months should the balance be allowed to run ?

7. May 1, 1896, a man buys a store and fixtures for $2650, giving his note payable in 6 months without interest. June 15, he pays $500; Aug. 1, $750. When should the balance be paid?

8. G. L. Hoyt purchased goods of Mann & Hunter to the amount of $3000: $1200 to be paid June 2, 1896; $600 to be paid July 5, 1896; $200 to be paid Aug. 15, 1896. The balance will become due Aug. 30, 1896. At what date must a note payable in 3 mo. be drawn that it may become due at the average date?

QUESTIONS.

324. 1. Define discount; present worth; true discount. Tell how to find present worth and true discount.

2. Define bank discount; proceeds; day of maturity; term of discount.

Tell how to find bank discount and proceeds.

Tell how to find face of note when proceeds, time, and rate are given.

3. What is a stock company? What are stocks? Bonds? Shares ?

4. Define par value; market value.

5. What is a stock certificate?

6. Define dividend; assessment.

7. Upon what are premium, brokerage, dividends, and assessments reckoned?

8. What is the average of payments? Equated time? Average term of credit?

RATIO AND PROPORTION.

325. Oral.

1. 5 bears what relation to 10? 2. 10 bears what relation to 5?

Ans.

Ans. 5 is of 10.
10 is 2 times 5.

3. What part of 16 is 4?

4. How does $7 compare with $14?

5. John has 20 and Mary 59. What is the relation of John's money to Mary's? Of Mary's money to John's?

6. What is the relation of 15 to 3? Of $8 to $16? Of 28 men to 7 men? Of 2 bushels to 2 pecks?

326. Ratio is the relation between two like numbers. is found by dividing one by the other; thus :

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It

The sign of ratio is (:). It is the division sign with the line omitted.

The ratio of 6 to 3 is expressed thus, 6:3. It may also be expressed fractionally, thus, §.

327. The Terms of a ratio are the two numbers compared.

The first term of a ratio is the Antecedent, and the second the Consequent.

In the ratio 6:12, 6 is the antecedent, and 12 the consequent.

328. A ratio formed by dividing the consequent by the antecedent is an Inverse ratio.

126 is the inverse ratio of 6: 12.

329. The two terms of a ratio taken together form a Couplet.

330. Two or more couplets taken together form a Compound ratio.

3:6

A compound ratio may be changed to a sim

8:596: 150 ple ratio by taking the product of the antecedents for a new antecedent, and the product of the consequent for a new consequent.

4:5

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Multiplying or dividing both terms of a ratio by the same number does not change the ratio.

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NOTE. Fractions with a common denominator have the same ratio as their numerators. Prove this in Ex. 10, by multiplying both terms by 10.

17.1? #8: 47% = ? 17:19 = ?

3 :

75

18. ? 3:8=? 4:3 = ? 3:4 = ?

=

19. Find the inverse ratio of 75 to 25. Of 15 to 225.

20. 16 (?). 14: (?) = 2.

21. (?) 54. (?):84.

22. Find the value of the compound ratio, 8:10)

331. Oral.

PROPORTION.

5:6 S

23. Give three fractions having the same value as .

24. Give two numbers that have the same ratio as 5 to 10. 25. Give a fraction equal to 3.

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