2. What is the interest of 421. 10s. for 11 months, at 6 £. d. Ans. 46,75 Interest for 11 mo. = 6 9 3. Required the interest of 941. 78. 6d. for one year, five months and a half, at 6 per cent. per annum ? Ans. £S 5s. 1d. 3,5qrs. eenh 4. What is the interest of 121. 188. for one third of a month, at 6 per cent. ? Ans. 5,16d. to it gure I will II. FOR FEDERAL MONEY. RULE. 1. Divido the principal by 2, placing tho separatrix as usual, and the quotient will be the interest for one month in cents, and docie mals of a cent; that is, the figures at the left of the separatrix will be cents, and those on the right, decimals of a cont. 2. Multiply the interest of one month by tho given number of Laonths, or months and decimal parts thereof, or for the days take the evon parts of a month, & EXAMPLES. onth. 1. What is the interest of 341 dols. 52 ets. for 71 months 2)341,52 Or thus, 170,76 Int. for 1 month. 170,76 Int. for 1 month. X7,5 months. 74 85380 1195,32 do. for 7 mo. 119532 85,38 do. for į mo. cts. m. 1280,700cts. = 12,80 7 1280,70 Ans. 1280,7cts.=$12, 80cts. 7m. 2. Required the interest of 10 dols. 44 cts. for 3 years, 5 months, and 10 days. 2)10,44 10 days=3) 5,22 interest for 1 month. 41 months. 5,22 208,8 214,02 ditto for 41 monthis. 1,74 ditto for 10 days. 215,76 cts. Ans. =$2, 15 cts. 7 m. + 3. What is the interest of 342 dollars for 11 months ? The } is 171 interest for one month. 11 Ans. 1881 cls.=$18, 81 cts. NOTE.—To find the interest of any sum for two months, at 6 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 one doliar; and $25, 40 cts. is 25 cts. 4m. &c. which gives the following Rule II.-Multiply the principal by half the number of months, and the product will show the interest of the given time, in cents and docimals of a cont, as above. EXAMPLES. 1. Required the interest of 316 dollars for 1 year and 10 months. ll= the number of mo. Ans. 3476 cts. $34, 76 cts. 2. What is the interest of 364 dols. 25 ets. for 4 months cts. 364, 25 2 half the months. III. When the principal is given in federal money, at 6 per cent. to find how much the monthly interest will be in New-England, &c. currency. Rrle.-Multiply the given principal by ,03, and the product will be the interest for ono month, in shillings and decimal parts of a shilling. EXAMPLES. 1. What is the interest of 325 dols. for 11 months 3 ,03 9,75 shil. int. for one month x11 months. Ans. 107,25 s.-£55. 3d. 1. What is Se interest in New England currency of 31 dute. 68 cts. for 5 months ? Principal 31,68 dols. ,03 ,9504 Interest for one month. 5 Ans. 4,7520s.-4. 9d. 12 9,02.16 IV. When the principal is given in pounds, shillings, &c. New-England currency, at 6 per cent to find how much the monthly interest will be in federal money. RULE.-Multiply the pounds, &c. by 5, and divide that product by 3, the quotient will be the interest for one month, in cents, and decimals of a cent, &c. EXAMPLES. 1. A note for £411 New-England currency has been on interest one month; how much is the interest thereof in feo deral money? £. 411 5 3)2055 Ans. 685 cts.=$6, 85 cts. 2. Required the interest of 391. 18s. N. E. currency, for months ? 39,9 decimal value. 5 3)199,5 Interest for 1 mo. 66,5 cents. 66,5 Ditto for 7 mo. 465,5 cts.=$4, 65 cts. 5 m. Ans. V. When the principal is given in New-England and Vir ginia currency, at 6 per cent. to find the interest for a year, in dollars, cents, and mills, by inspection. RULE.-Since the interest of a year will be just so may cents as the given principal contains shillings, therefore, write down the shillings and call them cents, and the pence in the principal made less by 1 if they exceed 3, or by 2 when they exceed 9, will be the mills, very nearly. EXAMPLES. 1. What is the interest of 21. 5s. for a year, at 6 per ct. ? £2 55=45s. Interest 45 cts. the Answer. 2. Required the interest of 2001. for a year, at 6 per ct. ? £100=2000s. ·Interest 2000 cts.=$20 Ans. 3. Of 27s. 6d. for a year? Ans. 27s, is 27 cts. and 6d. is 5 m. 4. Required the interest of 51. 10s. 11d. for a year ? £5 10s.=110s. Interest 110 cts,=$1, 10 cts. O m. 11 pence.—2 per rule leaves 9= 9 Ans. $1, 10 9 VI. To compute the interest on any note or obligation, when there are payments in part, or endorsements. RULE. 1. Find the amount of the whole principal for the whole Liine. 2. Cast the interest on the several payments, from the time they were paid to the time of settlement, and find their amount; and lastly, deduct the amount of the several payments from the amount of tho principal. EXAMPLES First payment, 148 dollars, May 7, 1794. Third payment, 99 dols. Jan. 2, 1798." I demand how $ cts. Yr. mo, 184, 50 amount 341, 00 second payment, Aug. 17, 1796. Yr. mo. 37, 51 interest to June 17, 1798. =1 10 378, 51 amount. (Carried over.] |