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9. Of 1 dollar for 12 years at 5 per cent. ?
Ans. 60cts. LD. Of 215 dollars 54 cts. for 4 and a half
at 3 and a half
Ans. $33, 9icts. 6m. 11. What is the amount of 394 dollars, 61 cents, for 5 gcars and 5 months, at 6 per cent. ?
Ins. 8450, 10cts. 3,6m. 12. What will scool. amount to in 12 years and 10 mont at 6 per cent. ?
ins. £5310. 13. What is the interest of 2571. 5s. 1d. for 1 year and 3 quarters, at 4 per cent. ? Ans. £18 Os. 1d. 3qrs.
14. What is die interest of 979 dollars, 87 cents for 2 years and a half, at 7 per cent. per annum:
Duis. $48, 97cts. 73 m 15. What will 2791. 155. 6el. amount tosin 5 years and a half at 54 per cent. per annu?
Ans, £331 Is. 60. 15. What is the amount of 941 dols. 60 cts. for 5 years and 3 quarters, at 7 and a half per
Aints. $488, 91scis. 17. What will 730 dols. amount to at 6 per cent. in 5 years, 7 months and 12 days, or go of a year :
A2. $975, 99cts. 18. What is the interest of 18251. at 5
per annum, from March 4th, 1796, to March 29th, 1799, (al. lowing the year to contain 565 days ?) Ans. £280.
Nore.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 correspondent abroadl, for buying and scling goods for his employer
1. What will the commission of 8431. 10s. come to at 5 per cent. I
6100 £42 Ss. 64. 2. Required the commission on 964 dols. 90 cts. at 24 per cent.
Ans. $21, 71cts. 3. What may a factor demand on 14 per cent. cominission, for laying out 3568 dollars? Ans. $62, 44cts.
BROKERAGE, IS an allowance of so much per cent. to persons assisting merchants, or factors, in purciiasing or selling goods.
1. What is the brokerage of 750!. Es. 4.1. at 6s. Sd.
per cent. ?
£. S. d.
Here I first find the brokerage at i
pound per cent, and then for the given ratc, which is of a poundi.
7,50 8 4
Ins. £2 10 0 11
$1,00 2. What is the brokerage upon 4125 dnis, at or 75 sents per cent. ?
ins. $30, 93cts. 7 1:2. 3. If a broker sells goods to the amount of 5000 dluis. what is his demand at 65 cts. per cent. ?
Ans. $32, 50cis
4. What may a broker demand, when he sells goousia the value of 508l. 17a. 10d. and I allow him 14 per cent.?
Ans. £? 12s. 8d.
INSURANCE, IS a premiuin ar so much per cent. allowed to persons and oilices, for making good the loss of ships, houses, mer. chandize, &c. which may happen from storms, fire, &c
EXAMPLES 1. What is the insurance of 725l. Es. 10, at 124 per cent. :
Ans (9:13s. 74d. 2. What is the insurance of an East-India ship and cargo, valued at 123-125 dollars, at 15 per cent. ?
ans. $1910, S7cts. 5m. 9. A man's house estimated at 3500 dollars, was insured a rainst fire, for 1 per cento a year: what insurance did he annually pay !
Ans. $61, 25cts.
SHORT PRACTICAL RULES,
or months and days.
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. re duce 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 decimals of a shilling.
EXAMPLIS. 1. Required the interest of 541. for seven manths ani len days, 10 per cent
10 days=},5,4 Interest for one month,
37,8 ditto for months.
Ins. 39,6 shillings=£1 19s. 7,211.
2. What is the interest of 421. 10s. for 11 months, at 6
is. 46.75 Interest for 11 mo. = % 6 9
3. Required the interest of 941. 7s. Ed. for one year, five months and a half, at 6 per cent. per annum.
Ans. £8 5s. ld. :,597's. 4. What is the interest of 121. 18s. for one third of a ceath, at 6 per cent. ?
II. FOR FEDERAL MONEY
1. Divide the principal by 2, placing the scparatrix as usual, and the quotient will be the interest for one month in seuts, and decimals of a cent; that is, the figures at the left of the separatrix will be cents, and those on the right, decimals of a cent. 9. Multiply the interest of one month by the given numa
v montis, or months, and decimas parts thereof, or for die slays take the even parts of a nuntii, &c.
EXANI PLES. 1. What is the interest of 341 dois. 52 cts.for 7 months 2)S41,52
Or thus, 170,76 Int. for 1 montlin 170,76 Int. for 1 month. X7,5 months 73
85380 1195,52 do. for 7 mo. 119532 85,38 do. for mo.
$ cts. m.
1280,700cts. =12,80 7 1280,70 Ans. 1280,7c1s.=$12, 80cts. 7m.
2. Required the interest of 10 dols. 44 cts. for 3 years 5 months and 10 days
10 «lays=}). 5,22 Interest for 1 month.
214,02 ditto for 41 months.
1,74 ditto for 10 days.
215,7Ccts. Ans.=82, 15cts. 7m. to
.=$ 3. What is the interest of 549 dollars for 11 months ?
The sis 171 Interest for one months
Ans. 1&31cts.=818, 81cts. NOTETo find the interest of any sum for 2 months, ato per cent. you need only call the dollars so many cents, and the inferior denominations decimals of a cent, and it is done : Thus, the interest of 100 dollars for two months, is 100 cents, or 1 dollar; and $25, 40 cts. is 25 cts. 4 m. &c. which gives the following
RULE IT. Multiply the principal by half the number of months, and the product will shew the interest for the given time, in cents and decimals of a cent, as above.