CASE IV. § 156. To find the interest at 6 per cent per annum for years, months, and days. RULE. Find the interest for the years by Case I, for the months by Case II, and for the days by Case III, then add the several results together and their sum will be the answer sought. 3 EXAMPLES. 1. What is the interest on $1597,27 at 6 per cent for years 9 months and 11 days? 9 Total interest years 11 months and 16 days? 2. What is the interest of $11759,10 at 6 per cent for Ans. $7028,02+. 3. What is the interest on $9787 for 12 years and 1 day? Ans. $7048,27+. Ans. $ 4. What is the interest of $87601,29 for 1 year 1 month and 1 day? +. 5. What is the interest of $806,90 for 1 year and 10. months at 6 per cent per annum? Ans. $88,75+. 6. What is the interest of $450,75 for 4 years and 7 months at 6 per cent per annum ? Ans. $123,95+. 7. What is the interest of $443,50 for 7 years 2 months and 12 days at 6 per cent per annum? 8. What will be the total amount of years and 10 months at an interest of 6 Ans. $ +. $649,22 after 10 per cent? Ans. $1071,21+. Q. How do you find the interest for years months and days? CASE V. § 157. When there are months and days, and the rate of interest is greater or less than 6 per cent. RULE. Find the interest at 6 per cent. Then add to it or sub tract from it such a part of the interest so found as the given rate exceeds or falls short of six per cent per annum. EXAMPLES. 1. What is the interest of $119,50 at 7 per cent per annum for 3 years and 4 months? 3. What is the interest of $987,99, at 5 per cent, for 5 years, 2 months and 9 days? Ans. $256,46+. 4. What is the interest on $437,21, at 3 per cent, for 9 years and 9 months? Ans. $127,88+. 5. What is the interest of $15000 for 8 months at 7 per cent per annum? Ans. $700. 6. What is the interest of $400 for 21 days at 5 per Ans. $1,16+. cent per annum? 7. What is the interest of $876,48, at 7 per cent, for years 9 months and 14 days? 4 Ans. $ +. 8. What will be the total amount of $1119,48, after 2 years and a half, at an interest of 7 per cent per annum? Ans. $1315,389. 9. What is the interest on $532,41 for 3 years and 3 months at 4 per cent per annum? Ans. $77,86+. 10. What is the interest on $8375,27, at 5 per cent per annum, for 5 years 5 months and 5 days? Ans. $ +. 11. What is the interest of $8759,27, at 6 per cent per annum, for 1 year 6 months and 9 days? Ans. $801,473+. 12. What is the interest, at 6 per cent per annum, on $7569,11, for 3 years 4 months and 18 days? Ans. $1664,573+. Q. When the rate of interest is greater or less than 6 per cent, how do you find the interest for months and days? § 158. NOTE. In computing interest, it is often very convenient to find the interest for the months by considering them as aliquot parts of a year, and the interest for the days by considering them as aliquot parts of a month. EXAMPLES. 1. What is the interest of $806,90 for one year 10 months and 10 days at 6 per cent? $806,90 6 2. What is the interest of $200 for 10 years 3 months 3. What is the interest of $132,26 for 1 year 4 months and 10 days, at 6 per cent per annum? 4. What is the interest of $25,50 for and 12 days, at 6 per cent? 5. What is the interest of $347,25 for and 6 days, at 4 per cent per annum? cent? At 5 per cent? At 7 per cent? At 6 per cent? At 8 per cent? At 8 Ans. $2,72+. Ans. $10,80+. 1 year 9 months 1 year 1 month Also, at 5 per At 7 per cent? per cent? And 6. What is the interest, at 6 per cent per annum, on $48,32, for 1 year 1 month and 15 days? Ans. $3,26+. 7. What is the interest, at 8 per cent per annum, on $675,87, for 3 years 6 months and 6 days? 5 Ans. $190,14+. 8. What is the interest, at 7 per cent, on $587,25, for years 5 months and 5 days? Ans. $223,23+. 9. What is the interest on $67589,20 for 3 years 9 months and 12 days, at 5 per cent per annum? CASE VI. Ans. $12785,62+ § 159. When the sum on which the interest is to be cast is in pounds, shillings, and pence. RULE. I. Reduce the shillings and pence to the decimal of a pound (see § 135). II. Then find the interest as though the sum were dollars and cents; after which reduce the decimal part of the answer to shillings and pence (see § 137). EXAMPLES. 1. What is the interest, at 6 per cent, of £27 15s 9d for 2 years? 2. What is the interest on £67 for 3 years 8 months 16 days? 3. What is the interest on £127 for 3 years and 3 months? 1,120000 Ans. £3 6s 84d+ 19s 6d, at 6 per cent, Ans. £15 2s 81⁄2d+. 15s 4d, at 6 per cent, Ans. £24 18 34d+. 4. What is the interest of £107 16s 10d, at 6 per cent, for 3 years 6 months and 6 days? Ans. £ +. 5. What will £279 13s 8d amount to in 3 years and a half, at 54 per cent per annum ? a half, at 4 per cent? 7. What is the interest of £523 a half, at 6 per cent? Ans. £331 1s 6d+. 10s 2d for 3 years and Ans. £72 Os 71d+. 11s 6d for 3 years and Ans. £ +. 8. What is the interest on £255 10s 8d at six per cent per annum, for 6yr. 6mo.? Ans. £99 13s 1 d. 9. What is the interest on £53 18s 5d at 6 per cent for 7yrs, 12da.? Ans. £22 15s ld+. |