a 10 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. 92 62 59 31 365 335 304 274 243 212 182 151 121 89 61 30 365 334 304 273 242 212 181) 151 June 151 120 61 31! 365 335 304 273 243| 212 182 150 122 91 61 30 365 334 303 273 242 212 61 304 365 334 304 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 400 57 57000 1801. 68 40800 Balance, 600 200 Balance, 400 104 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. 10 8 RULE. year : : add it to the sum paid, and deduct that sum from “ 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. 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, 500 260 67,50 interest to February 19, 1798=131 months. line ар. junthathe wit for the thi 1067,50 amount. [Carried up.] 1067,50 amount. [Brought up. 70,845 interest to June 29, 1799=161 months. 438,345 balance due June 29, 1799. 26,30 interest for one year. 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. 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 Amount, 1067,50 200,00 867,50 Interest to June 29, 1799, (16) mo.) 70,84 Amount, 938,34 500,00 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 |