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2. What is the discount of 110l. 15s. od. due weeks hence, at 44 per cent. per annum?

Anf. il. 2s. old. 3 How much ready money will discharge a note of 731. due 17 months hence, discount at 5 per cent. per annum? Anf 681. 3s. 5 zid.

4. What is the present worth of 6851. 11s. 8d. due 287 days henee, at 34 per cent. per annum? Anf. 6651. 19s. old.

5. Find the rebate of 120l. due 2 years hence, at 44 per cent. per annum? Anf. 12l. 11S. 1d.

6. If a legacy of 250l. be left me, on the 10th of September, to be paid on the 5th of April following; what must I receive when I allow 4 per cent. per annum discount for prefent payment? Anf. 2441. 98. 2d. 7. What is the difcount of 130l. 15s. 6d. due October 10th, this being May 2d, reckoning intereft at 4 per cent. per annum ? Anf. 21. 5s. 74d.

8 What is the prefent worth of 190l. 11s. 8d. payable as follows, viz. 6ol. at 4 months, 90l. at 6 months, and the reft at 9 months, discount at 4 per cent. per annum ? Anf. 1861. 16s. 11d.

9. The ready money price of a quantity of goods was 210l, which goods were fold for 2361. 10s. 6d. payable 13 ms. hence. What was the gain in ready money, fuppofing discount to be made at 4 per cent. per annum? Anf. 151 10s. 74 14d. 10. Required the rebate of 1961. 16s. od. payable at 3 months, and the reft at 9 months, at 5 per cent. per annum? Anf. 51. 18s. Iod. II. What difference is there between the intereft of 250l. at 4 per cent per annum, for 9 years, and the discount of the fame fum, at the fame rate, and for the fame time? Anf. 231. 16s. 5190.

12. I demand the prefent worth of 410l. 10s. 8d. due as follows, viz. 50l. prefent, 100l. at 7 ms. 2001. at 11 ms. and the reft at 13 ms. discount at 4 per cent. per annum? Anf. 3971. 18s. 112d.

EQUATION

EQUATION of PAYMENTS.

EQuation of payments is the finding a time, to pay at once, feveral fums, due at different times, fo that neither receiver nor payer may fuftain lofs.

R U L E.

Multiply each payment by the time it is due at, then divide the fum of the products by the fum of the payments, and the quotient will be the equated time.

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1. John owes Thomas 300l. to be paid 50l. at 2 months, 100 at 5 months, and the reft at 8 months; but they agreed that the whole fhould be paid at one time; when must that time be?

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2. Find the equated time of 2ol. due at 1 month, 5ol. due at 3 months, and 761. due at 5 months.

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3. James owes Edward a certain fum, which is to be discharged in the following manner, viz. months, 4 at 4 months, at 6 months, and the reft at 9 months; but they afterwards agree to have an equated time for the payment of the whole; that time is required? Anf. 5 ms. 4 ds. 4. A perfon has 50l. due to him at 2 months, 8ol. at 5 months, and 120l. at 9 months, but would have the whole paid together; the equated time is required? Anf. 6 ms. 9 ds. 5. Johnfon

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5. Johníon is indebted to Watson 251. 38. 9d. to be paid at 3 months, 841. 10s. 8d. to be paid at 5 months, and 971. 128. 8d. to be paid at 8 months; what is the equated time for payment of the whole?

Anf. 6 ms. 13 ds.

6. Robert buys of Roger, on the 8th of September, goods to the value of 380l. 10s. 6d. to pay 1251. 6s. 8d. on the ft of November, and the remainder on Christmas-day; but they afterwards agreed that the whole fhould be paid at once; the equated time is demanded? Anf. 90 days.

7. A debt of 250l. is to be discharged thus, viz. 5ol. prefent, 150l. at 4 months, and the reft at 6 months; what is the equated time for the whole ?—Ans. 3} ms.

8. John owes Thomas 480l. to be paid at 6 months, but he pays him 120l. at 1 month and, and 160l. more at 4 months and ; how much longer than 6 months ought Thomas in equity to defer the reft? Ans. 3 ms. REMARK.

The above rule is not ftrictly accurate, but it is fufficiently fo for common practice, and is the most eligible method that can be used in business, as the true rule is very tedious to work by.

FELLOWSHIP.

FELLOWSHIP is a rule by which merchants, trading in company, calculate their fhares of the gain proper or lofs; or by which the effects of brankrupts may be justly divided amongst their creditors; legacies may be adjusted when the effects are deficient; commons may be divided among the proprietors of land; and any other tranfaction, in company, may be fettled in proportion to the juft intereft of every partner.

SINGLE

FELLOWSHIP.

SIngle fellowship is when calculations, in partnership, are made by confidering the fhares only, without

any

any regard to the difference of time they have been employed.

R U L E.

:

State, as the fum of the feveral shares is to the whole gain, lofs, fum, or thing to be divided: fo is each perfon's particular fhare to his share of the gain, lofs, fum, or thing to be divided."

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Add into one fum all the refults of the different ftatings, and their fum will be equal to the second term in the proportion, if the question is right.

EXAMPLES.

1. Abraham, John, and Edward trade in company with a stock of 600l. of which Abraham advanced rool. John 200l. and Edward the reft. The whole gain was 350l.; how muft it be shared amongst them?

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£ 116 13 4 John's gain L. 175 Edward's gain

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2. Three perfons traded in company. A put 1281. B 130l. and C 150l. 158. The neat gain was 119l. 48. od.; what was each perfon's fhare?

Anf.

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37 6 61, 297 A's gain.

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2150 B's gain.

221 8113

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C43 19 24,4 C's gain.

3. A tradefman breaking owes John 410l. 11s. 6d. Thomas 3131. 78. 2d. Richard 250l. 118. 8d. and William 100 guineas. His effects are only worth 68ol. 11s. 2d.; what will the dividend of each creditor be?Anf. John's dividend is 2581. 168. 94 94114d. Thomas's is 1971. 118. 03084d. Richard's is 1571. 19s. 5 43022d. and William's is 661. 38. 1042d.

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4. John, by will, leaves Robert 250l. John 300l. James 160l. and 280l. to Edward; but his effects are found to amount only to 530l. 11s. 6d. How much will every legatee be entitled to receive?-Anf. Robert muft receive 1331. 198. 82 34d. John, 160l. 15s. 74 d. James, 851. 148. 114 d. and Edward 150l. is. 24 5d.

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5. A piece of ground confifting of 137 as. 2 rs. 14 ps. is to be divided among three perfons, A, B, and C, in proportion to their eftates. A's eftate was worth 500l. a year, B's 320l. and C's 1751.; what quantity. of land must each one have ?-Anf. A must have 69 as. 22 ps. B, 44 as. 3983 ps. and C, 24 as. 3100 ps. 6. The effects of a bankrupt, amounting to 250l. are to be divided among his three creditors, Chriftopher, George, and John. Ta the first of these he owes Iool. to the fecond 150l. and to the third 200l. What does he pay per pound, and what does each creditor receive for his fhare-Anf. he pays 11s. Id. per pound. Chriftopher receives 551. 118. 1d. George 831. 6s. 8d. and John 1111. 2s. 24d.

7. John and Thomas put equal fums into trade, and gain 308. John, by agreement, was to have 9 per cent. because he managed the business, and Thomas was only to have 5 per cent.; what was John allowed for his trouble Anf. 110L

8. Three

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