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EXAMPLES.

1. What is the interest of 75l. 8s. 4d. for 5 years and 2 months, at 61. per cent. per annum ?

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2. What is the interest of 64 dollars, 58 cents, for 3 years, 5 months, and 10 days, at 5 per cent. ?

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10 days,}

$64,58
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Ans. 1112,191112cts. or $11, 12c. 17m. 3. What is the interest of 789 dollars for 2 years, at 6 per cent. ?

Ans. $94, 68cts.

4. Of 37 dollars 50 cents for 4 years at 6 annum ?

per cent. per Ans. 900cts. or $9 5. Of 325 dollars 41 cents, for 3 years and 4 months, at 5 per cent.? Ans. $54, 23cts. 5m.

6. Of 325l. 12s. 3d. for 5 years, at 6 per cent. P Ans. £97 13s. 8d.

7. Of 1747. 10s. 6d. for 3 and a half years at 6 per

cent. ?

Ans. £36 13s. 8. Of 150l. 16s. 8d. for 4 years and 7 months, at 6 per cent. P

Ans. £41 9s. 7d.

9. Of 1 dollar for 12 years at 5 per cent.?

Ans. 60cts.

10. Of 215 dollars 54 cts. for 4 and a half years, at 3 and a half per cent. ? Ans. $33, 91cts. Em. 11. What is the amount of 324 dollars, Ci cents, for 5 years and 5 months, at 6 per cent. ?

Ans. 8430,

10cts. 8-25 m.
12 years and 10
Ans. £5310.

12. What will 3000l. amount to in months, at 6 per cent. ?

3 quarters, at 4 per cent. ?

13. What is the interest of 257. 58. 1d. for 1 year and Ans. £18 Os. 1d. 3qrs. 14. What is the interest of 279 dollars, 87 oents for 2 years and a half, at 7 per cent. per annum ? Ans. $48, 97cts. 74m 15. What will 2797. 15s. 8d. amount to in 3 years and a half at 53 per cent. per annum ?

Ans. £331 1s. 6d. 16. What is the amount of 341 dols. 60 cts. for 5 years and S quarters, at 7 and a half per cent. per annum ? Ans. $488, 91 lets. 17. What will 730 dols. amount to at 6 per cent. in 5 years, 7 months and 12 days, or of a year?

2

365

Ans. $975, 99cts. 18. What is the interest of 1825l. at 5 per cent. per annum, from March 4th, 1796, to March 29th, 1799, (ale lowing the year to contain 365 days ) Ans. £280.

NOTE. The Rules for Simple Interest serve also to calculate Commission, Brokerage, Insurance, or any thing else estimated at a rate per cent.

COMMISSION,

IS an allowance of so much per cent. to a factor or corespondent abroad, for buying and selling goods for his employer.

EXAMPLES.

1. What will the commission of 8431. 10s. come to at 5 per cent. P

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£42 3s. 6d.

2. Required the commission on 964 dols. 90 cts. at 24

per cent.

3. What may a factor demand on sion, for laying out 3568 dollars?

BROKERAGE,

Ans. 821, 71cts. 13 per cent. commisAns. $62, 44cts.

IS an allowance of so much per cent. to persons assisting merchants, or factors, in purchasing or selling goods.

EXAMPLES.

1. What is the brokerage of 7501. 8s. 4d. at 6s. 8d. per cent. ?

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Ans. £2 10 0 1

2. What is tne brokerage upon 4125 dols. at or 75 sents per cent. ? Ans. $30, 93cts. 74m. 3. If a broker sells goods to the amount of 5000 dels. what is his demand at 65 cts. per cent. ?

Ans. $32, 50cts

4. What may a broker demand, when he sells goods to the value of 508l. 17s. 10d. and I allow him 14 per cent.? Ans. £7 12s. 8d.

INSURANCE,

IS a premium at so much per cent. allowed to persons and offices, for making good the loss of ships, houses, merchandize, &c. which may happen from storms, fire, &c.

EXAMPLES.

1. What is the insurance of 7251. Ss. 10d. at 121 per cent. P Ans. £90 13s. 7id. 2. What is the insurance of an East-India ship and cargo, valued at 123425 dollars, at 15 per cent. ? Ans. $19130, 87cts. 5m. 5. A man's house estimated at $500 dollars, was insured against fire, for 13 per cent. a year; what insurance did he annually pay? Ans. $61, 25cts.

SHORT PRACTICAL RULES,

For calculating Interest at 6 per cent. either for months, or months and days.

I. FOR STERLING MONEY.

RULE.

1. If the principal consists of pounds only, cut off the unit figure, and as it then stands it will be the interest for one month, in shillings and decimal parts.

2. If the principal consists of pounds, shillings, &c. reduce it to its decimal value; then remove the decimal point one place, or figure, further towards the left hand, and as the decimal then stands, it will shew the interest for one month, in shillings, and deetmals of a shilling.

EXAMPLES.

1. Required the interest of 541. for seven months and ten days, at 6 per cent

S:

10 days=15,4 Interest for one month.

57,8 ditto for 7 months.
1,8 ditto for 10 days.

Ans. 39,6 shillings=£1 19s. 7,22

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2. What is the interest of 421. 10s. br 11 months, at 6 per cent. ?

£. s.

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42 10 = 42,5 decimal value

Therefore 4,25 shillings inteest for 1 month.

11

£. s. d. Ans. 46,75 Interest fo 11 mo. = 2 6 9

3. Required the interest of941. 7s. Cd. for one year, five months and a half, at 6

cent. per annum. Ans. £8 5s. 1d. 3,5qrs. 4. What is the interest f 12. 18s. for one third of a month, at 6 per cent. ? Ans. 5,16d.

II. FORFEDERAL MONEY.

RULE.

1. Divide the rincipal by 2, placing the separatrix as usual, and the dotient will be the interest for one month in cents, and ecimals of a cent; that is, the figures at the left of the cparatrix will be cents, and those on the right, decims of a cent.

2. Multy the interest of one month by the given number of meths, or months, and decimai parts thereof, or for the de take the even parts of a month, &c.

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