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À TABLE, showing the number of Days from any day of one

month, to the same day of any other month.

FROM ANY DAY OF

Ans. $10, 53 cts.+

£ s. d. grs.

=8652=8 13 0 1,9 2. What is the interest of 640 dols. 60 cts. for 100 days, the su 3. Required the interest of 2501. 17s. for 120 days, at 5 - intere

Ans. £4,1235=41. 2s. 5 d.+ 4. Required the interest of 481 dollars 75 cents, for 21 days, at 7 per cent. per annum ? Ans. $2,30 cts. 9m.+ 360,5 X 146 X ,06

365 at 6 per cent. per annum ? per cent per annum?

Jan. Feb. Mar. Appl. May June July Aug. Sept Oct. Nov. Dec.
Jan. 365 334 306 275 245 2141 184 153 122 92 61 31
Feb. 31 365 337 306 276 245 215 184 153 123

92

62
Mar. 59! 28 365 334 304 273 243 212 181 151 120 901
Ap'2) 90

59 31 365 335 304 274 243 212 182 151 121
May 120

89 61 30 365 334 304 273 242 212 181) 151 June 151 120

61 31! 365 335 304 273 243| 212 182
Juiy 181

150 122 91 61 30 365 334 303 273 242 212
Aug. 212 181 153 122 92] 31 365 334 304 273 243
Sept. 243 212 184! 153 123 91 62 31 365 335 304 274
Oct. 273 242 214 183 153 122

61 304 365 334 304
Nov. 304. 273 246 214 184 153 123 92 61 31/ 365 3351
Dec./ 334 303 2751 244 214 183 153 122 91 61 30 365

92

61

92

When interest is to be calculated on cash accounts, &c. where partial payments are made; multiply the several balances into the days they are at interest, then multiply the sum of these products by the rate on the dollar, and divide the last product by 365, and you will have the whole interest due on the account, &c.

EXAMPLES.

Lent Peter Trusty, per bill on demand, dated 1st of June, 1800, 2000 dollars, of which I received back the 19th of August, 400 dollars ; on the 15th of October, 600 dollars ; on the 11th of December, 400 dollars; on the 17th of February, 1801, 200 dollars; and on the 1st of June 400 dollars; how much interest is due on the bill, reckoning at 6 per cent. ? 1800.

dols. days. products. June 1, Principal per bill, 2000 79 158000 August 19, Received in part,

400

Balance, 1600 57 91200 October 15, Received in part,

600

Balance, 1000
December 11, Received in part,

400

57

57000

1801.

68

40800

Balance, 600
February 17, Received in part,

200

Balance, 400 104
June 1, Rec'd in full of principal, 400

41600

utof

- 388600 Then 388600 ,06 Ratio.

$ cts. m. 365)23316,00(63,879 Ans. = 63 87 9+ The following Rule for computing interest on any note, or obligation, when there are payments in part, or endorsements, was established by the Superior Court of the State of Connecticut, in 1784.

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RULE.
# Compute the interest to the time of the first paj dients
if that be one year or more from the time the interest com-
menced, add it to the principal, and deduct the payment
from the sum total. If there be after payments made,
compute the interest on the balance due to the next pay-
ment, and then deduct the payment as above, and in like
manner from one payment to another, till all the payments
are absorbed ; provided the time between one payment and
another be one year or more. But if any payment be made
before one year's interest hath accrued, then compute the
interest on the principal sum due on the obligation for one
year, add it to the principal, and compute the interest on
the sum paid, from the time it was paid, up to the end of
the

year : : add it to the sum paid, and deduct that sum from
the principal and interest added as above.*

If any payments be made of a less sum than the interest arisen at the time of such payment, no interest is to be computed but only on the principal sum for any period."

Kirby's Reports, page 49.

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EXAMPLES.

bit

A bond, or note, dated January 4th, 1797, was given foi 1000 dollars, interest at 6 per cent, and there were pay ments endorsed upon it as follows, viz.

$ 1st payment February 19, 1798,

200 2d payment June 29, 1799,

500
3d payment November 14, 1799,

260
I demand how much remains due on said note the 24th
of December, 1800 ?
1000,00 dated January 4, 1797.

67,50 interest to February 19, 1798=131 months.

line ар. junthathe wit for the thi

1067,50 amount.

[Carried up.]
* If a year does not exterd beyond the time of final settlement; but if it
does, then find the amount of the principal sum due on the obligation, up to
the time of settlement, and likewise find the amount of the sum paid, from the
time it was paid, up to the time of the final settlement, and deduct this
amount from the amount of the principal. But if there be several payments
made within the said time, find the amount of the several payments, from
the time they were paid, to the time of settlement, and deduct their amount
from the amount of the principales

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1067,50 amount.

[Brought up.
200,00 first payment deducted.
867,50 balance due, Feb, 19, 1798.

70,845 interest to June 29, 1799=161 months.
938,345 amount.
500,000 second payment deducted.

438,345 balance due June 29, 1799.

26,30 interest for one year.
464,645 amount for one year.
269,750 amount of third payment for 7 months. *
194,895 balance due June 29, 1800.

mo. da. 5,687 interest to December 24, 1800. 5 25 200,579 balance due on the Note, Dec. 24, 1800.

RULE II. btablished by the Courts of Law in Massachusetts for

computing interest on notes, foc. on which partial paywents have been endorscd.

"Compute the interest on the principal sum, from the lint when the interest commenced to the first time when a poyment was made, which exceeds either alone or in conjunction with the preceding payment (if any) the interest at that time due: add that interest to the principal, and from the sum subtract the payment made at that time, together with the preceding payments (if any) and the remainder forms a new principal; on which compute and subtract the payments as upon the first principal, and proceed in this manner to the time of final settlement."

$ cts. *260,00 third payment with its interest from the time it was paid, up to 9,75 the end of the year, or from Nov. 14, 1799, to June 29, 1800,

which is 7 and 1-2 months. 269,75 amount.

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Let the foregoing example be solved by this Rule. A note for 1000 dols. dated Jan. 4, 1797, at 6 per cent. 1st payment February 19, 1798,

$200 2d payment June 29, 1799,

500 3d payment November 14, 1799,

260 How much remains due on said note the 24th of Decem ber, 1800 ?

$ cts. Principal, January 4, 1797,

1000,00
Interest to February 19, 1798, (13) mo.) 67,50

Amount, 1067,50
Paid February 19, 1798,

200,00
Remainder for a new principal,

867,50 Interest to June 29, 1799, (16) mo.)

70,84

Amount, 938,34
Paid June 29, 1799,

500,00 Remains for a new principal,

438,34 Interest to November 14, 1799, (4) mo.)

9,86

Amount, 448,20 November 14, 1799, paid

260,00 Remains for a new principal,

188,20 Interest to December 24, 1800, 13, mo.)

12,70 Balance due on said note, Dec. 24, 1800,

200,90

$ cts. The balance by Rule J. 200,579

Rule II. 200,990

Difference, 0,411

Another Example in Rule II. A bond or note, dated February 1, 1800, was given for 500 dollars, interest at 6 per cent and there were payments endorsed upon it as follows, viz.

$ cts. 1st payment May 1, 1800,

40,00 2d payment November 14, 1800

8,00

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