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7. Two men, A and B, lay out equal sums of money in trade; A gains 126l. and B looses 871 and A's money 1 now double to B's; what did each lay out?

Ans. £300. 8. A farmer having driven his cattle to market, .eceiv. ed for them all 1301. being paid for every ox 71. for every cow 5l. and for every calf ll. 10s. there were twice as many cows as oxen, and three times as many caives as COWS ; how many were there of each sort?

Ans. 5 oxen, 10 cows, and 30 colves. 9. A, B and C, playing at cards, staked 324 crowns ; but disputing about tricks, each man took as many as he could : A got a certain number; B as many as A and 15 more ;

C got a 5th part of both their sums added together; how many did each get ?

Ans. A got 1274, B 1421, C54.

PERMUTATION OF QUANTITIES, Is the shewing how many different ways any given number of things may be changed.

To find the number of Permutations or changes, that can be made of any given number of things, all different from each other

RULE. Maltiply all the terms of the natural series of numbers from one up to the given number, continually together and the last produet will be the answer required.

EXAMPLES. 1. How many changes can be

a b c made of the three first letters of

2

a cb the alphabet ?

3 bac Proof,

4 bca

5 cba 1x2x3=6 Ans.

6
. How many changes may be rung on 9 bells ?

Ans. 362880.

3. Seven gentlemen met at an inn, and were so well pleased with their host, and with cach other, that they agreed to tarry so long as they, together with their host, could sit every day in a different position at dinner ; how long must they have staid at said inn to have fulfilled their agreement ?

Ans. 11017) years.

ANNUITIES OR PENSIONS,

OOMPUTED AT
COMPOUND INTEREST.

CASE I.
To find the amount of an annuity, or Pension, in artears,

at Compound Interest.

RULE. 1. Make 1 the first term of a geometrical progression, and the amount of $1 or £1 for one year, at the given rate per cent. the ratio.

2. Carry on the series up to as many terms as the given mumber of years, and find its sum.

3. Multiply the sum thus found, by the given annuity, and the product will be tnc amount sought.

1. If 125 dols. yearly rent, or annuity, be forborne, (or unpaid) 4 years; what will it amount to, at 6 per cent. per annum, compound interest?

1+1,06+1,1236+1,191016-4,374616 sum of the seriss.--Then, 4,374616X125=8546,827 the amount sought.

OR BY TABLE II. Multiply the Tabular number under the rate and opposite to the time, by the annuity, and the product will be the amount sought.

* The sum of the series thus found, is the amount 11. or 1 dollar annuity, for the given time, which may be found in Table II. ready calculated. Hence, either

the amount or present worth of annuities may be readily found by Tables for that purpose.

LXAMPLES.

2. If a salary of 60 dollars per annum to be paid year y, be forborne 20 years, at 6 per cent. compound inerest; what is the amount?

Under 6 per cent. and opposite 20, in Table II, you will find, Tabular number=36,78559

60 Annuity.

Ans. $2207,13540=82207, 15cts. 5m. + 3. Suppose an Annuity of 1001.-be 12 years in arrears, it is required to find what is now due, compound interest being allowed at 5l. per cent. per annum ?

Ans. £ 1591 14s. 3,024d. (by Table III.) 4. What will a pension of 120l. per annum, payable yearly, amount to in 3 years, at 5l. per cent. compound interest P

Ans. £378 6s. II. To find the present worth of Annuities at Compound

Interest.

RULE.

Divide the annuity, &c. by that power of the ratio sig. nified by the number of years, and subtract the quotient from the annuity: This remainder being divided by the ratio less 1, the quotient will be the present value of the Annuity sought.

EXAMPLES

1. What ready money will purchase an Annuity of 501. to continue 4 years, at 5l. per cent. compound interest ?

of

s
From 50
Subtract 41,13515

Divis. 1,05-1=05)8,86487

177,297=£177 5s. 114d. Ans.

BY TABLE HİF.
Under 5 per cent. and even with 4 years.

We have 3,54595=present worth of 1l. for 4 years. Multiply by 50=Annuity,

Ans. $177,29750=present worth of the annuity. 2. What is the present worth of an annuity of 60 dols. per annum, to continue 20 years, at 6 per cent. compound interest?

Ans. $688, 19scts. + 3. What is 30l. per annum, to continue 7 years, worth in ready money, at 6 per cent. compound interest?

Ans. £, 167 9s. 5d. + III. To find the present worth of Annuities, Leases, &c.

taken in REVERSION, at Compound Interest. 1. Divide the Annuity by that power of the ratio denoted by the time of its continuance.

2. Subtract the quotient from the Annuity : Divide the remainder by the ratio less 1, and the quotient will be the present worth to commence immediately.

3. Divide this quotient by that power of the ratio denoted by the time of Reversion, (or the time to come. before the Annuity commences and the quotient will be the present worth of the Annuity in Reversion.

EXAMPLES.

1. What ready money will purchase an Annuity o£501. payable yearly, for 4 years : but not to commence till two'

per cent:

? 4th power of 1,05=1,215566)50,00000(41,18513

Subtract the quotient=41,13518

years, at 5

Divide by 1,05–1=,65)8,86487 2d. power of 1,05=1,1025)177,297(160,8136=£160 166. 3d. 1gr. present worth of the Annuity in Reversion.

OR BY TABLE III. Find the present value of 1l, at the given rate for the sum of the time of continuance, and time in reversion added together; froin which value subtract the present worth of il. for the time in reversion, and multiply the remainder by the Annuity; the product will be the answer.

Thus in Example 1. 'Time of continuance, 4 years. Ditto of reversion, 2

The sum,
Time in reversion,

2 years,

0 years, gives 5,075699

1,859410

Remainder, 3,216282 x 50

Ans. £160,8141 2. What is the present worth of 75l. yearly rent, which is not to commence until 10 years hence, and then to continue 7 years after that time at 6 per cent. ?

Ans. 6233 158. 9d. 3. What is the present worth of the reversion of a lease of 60 dollars per annum, to continue 20 years, but not to commence till the end of 8

years, allowing 6

per cent to the purchaser ? Ans. 8431 78cts. 2. IV. To find the present worth of a Freehold Estate, or an Annuity to continue forever, at Compound Interest.

RULE. As the rate per cent. is to 100l. : so is the yearly rent to the value required.

1. What is the worth of a Freehold Estate of 40l. per annum, allowing 5 per cent to the purchaser ?

As £5 : £100 : : £40 : £800 Ans. %. An estate brings in yearly 1501. what would it sell for, allowing the purchaser 6 per cent. for his money?

Ans. £2500 V. To find the present worth of a Freehold Estate, in Reversion, at Compound Interest.

RULE. 1. Find the present value of the estate (by the foregomg, ryle), as though it were to be entered on immediately, and divide the said value by that power of the ratio de noted by the time of reversion, and the quotient will be the present worth of the estate in Reversion.

EXAMPLES.

EXAMPLES

1. Suppose a freehold estate of 40l. per annum to coma mence two years, hence, be put on sale; what is its value, allowing the purchaser 5l. per cent. ?

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