ANOTHER METHOD. and Write down the given principal in cents, which multiply by the rate, and divide by 100 as before, you will have the interest for a year, in cents, and decimals of a cent, as follows: 6 9. What is the interest of $73, 65 cents for a year, at per cent. ? Principal 7365 cents. 6 Ans. 441,90cts. 441cts. or $4, 41cts. 9m. 10. Required the interest of $85, 45cts. for a year, at 7 per cent. ? Cents. Principal 8545 7 To find the simple interest of any sum of money, number of years, and parts of a year. GENERAL RULE. for any 1st. Find the interest of the given sum for one year. 2d. Multiply the interest of one year by the given number of years, and the product will be the answer for that time. 3d. If there be parts of a year, as months and days, work for the months by the aliquot parts of a year, and for the days by the Rule of Three Direct, or by allowing 30 days to the month, and taking aliquot parts of the same. * * By allowing the month to be 30 days, and taking aliquot parts thereof, you will have the interest of any ordinary sum sufficiently exact for common use; but if the sum be very large, you may say, As 365 days is to the interest of one year so is the given number of days: to the interest required. EXAMPLES. 1. What is the interest of 751. 8s. 4d. for 5 years and 2 months, at 61. £. s. d. 6 452 10 0 20 10/50 12 6100 per cent. per annum? £. s. a. 2mo.4 10 6 Interest for 1 year. 5 22 12 6 do. for 5 years. 0 15 1 do. for 2 months. £23 7 7 Ans, 2. What is the interest of 64 dollars 58 cents, for $ years, 5 months, and ten days at 5 per cent.? $ 64,58 Ans. 1112,19-1112cts. or $11, 12c. 1m. 3, What is the interest of 789 dollars for 2 years, at 6 per cent. ? Ans. 894, 68cts. 4. Of 37 dollars 50 cents, for 4 years, at 6 per cent. per annum ? Ans. 900cts. or $9. 5. Of 325 dollars 41 cts. for 3 years and 4 months, at 5 per cent. ? Ans. $54, 23cts. 5m. 6. Of 325l. 12s. 3d. for 5 years at 6 per cent.? Ans. £97 13s. 8d. cent. ? 7. Of 174l. 10s. 6d. for 3 and a half years at 6 per Ans. £36 13s. 8. Of 150l. 16s. 8d. for 4 years and 7 months, at 6 per cent. ? Ans. £41 9s. 7d. 9. Of 1 dollar for 12 years at 5 per cent. ? Ans. 60cts. 10. Of 215 dollars 34 cts. for 4 and a half years, at 3 Ans. $33, 91cts. 6m. and a half per cent.? 11. What is the amount of 324 dollars, 61 cents, for 5 years and 5 months, at 6 per cent.? Ans. $430, 10cts. 8,25 m. 12. What will 3000l. amount to in months, at 6 per cent. ? 12 years and 10 Ans. £5310. 13. What is the interest of 257l. 5s. 1d. for 1 year and 3 quarters, at 4 per cent. ? Ans. £18 Os. 1d. 3qrs. 14. What is the interest of 279 dollars, 87 cents for 2 years and a half, at 7 per cent. per annum ? Ans. $48, 97cts. 74m. 15. What will 2791. 13s. 8d. amount to in 3 a half at 54 per cent. per annum ? years and Ans. £331 1s. 6d. 16. What is the amount of 341 dols. 60 cts. for 5 years and 3 quarters, at 7 and a half per cent. per 17. What will 730 dols. amount years, 7 months and 12 days, or annum ? Ans. $488, 91 cts. to at 6 per cent. in 5 of a year? Ans. $975, 99cts. 18. What is the interest of 18251. at 5 per cent. per annum, from March 4th, 1796, to March 29th, 1799, (allowing the year to contain 365 days?) Ans. £280. NOTE.-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 co respondent abroad, for buying and selling goods for his employer. EXAMPLES. 1. What will the commission of 8431 10s. come to at 5 per cent. ? £. S. 843 10 5 42 17 10 20 $ 50 6100 £42 3s. 6d. 2. Required the commission on 964 dels. 90 cts. at 24 per cent.? Ans. $21, 71cts. 3. What may a factor demand on 1 per cent. commission, for laying out 3568 dollars? BROKERAGE, Ans. $62, 44cts IS an allowance of so much per cent. to persons assisting merchants, or factors, in purchasing or selling goods. EXAMPLES. 1. What is the brokerage of 750l. 8s. 4d. at 6s. &d. per cent. ? S. d. 750 8 4 1 7,50 8 4 10,08 12 1,00 2. What is the brokerage upon 4125 dols. at or 75 cents per cent. ? Ans. $50, 93cts. 74m. 3. If a broker sells goods to the amount of 5000 dols. what is his demand at 65 cts. per cent. ? Ans. $32, 50cts. 4. What may a broker demand, when he sells goods to the value of 508. 17s. 10d. and I allow him 14 per cent ? Ans. £7 12s. 8d. INSURANCE, IS a premium at so much per cent. allowed to persons and offices, for making good the loss of ships, houses, merchandize, &c. which may happen from storms, fire, &c., cent. ? EXAMPLES. 1. What is the insurance of 725l. 8s. 10d. at 12 per Ans. £90 13s. 74d. 2. What is the insurance of an East-india ship and cargo, valued at 123425 dollars, at 15 per cent. ? Ans. $19150, 87cis. 5m. 3. A man's house estimated at 3500 dollars, was insured against fire, for 13 per cent. a year: what insurance did he annually pay? Ans. Sol, 25cts, SHORT PRACTICAL RULES, For calculating Interest at 6 per cent, either for months or months and days. I FOR STERLING MONEY. RULE. 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. reduce it to its decimal value; then remove the decimal point one place, or figure, further towards the left hand, and as the decima! then stands, it will shew the interest for one month, in shillings, and decimals of a shilling. EXAMPLES. 1. Required the interest of 541. for seven months and ten days, at 6 per cent |