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$150

Oct. 16, 1827,

What was there due August 31, 1828? Ans. $194,41.

The principal, $600, on interest from March 1, 1822,
Interest to May 1, 1823, (14 mo.)

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Payment, May 1, 1823, a sum greater than the interest,

Due May 1, 1823, forming a new principal,
Interest on $442, from May 1, 1823, to June 16, 1824, (13 mo.)

Payment, June 16, 1824, a sum greater than the interest then due,

Due June 16, 1824, forming a new principal,
Interest on $391,83, from June 16, 1824, to March 1, 1826, (201 mo.)

$600,00 42,00

Amount, $642,00

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Amount,

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$127,00

$304,99

29,73

Amount,

$334,72

Due March 1, 1826, forming a new principal,
Interest on $304,99, from March 1, 1826, to Oct. 16, 1827, (19 mo.)

Payment, Oct. 16, 1827, a sum greater than the interest then due, 150,00

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Due Oct. 16, 1827, forming a new principal,
Interest on $184,72, from Oct. 16, 1827, to August 31, 1828, being the
time of settlement, (10/mo.)

Balance due Aug. 31, 1828,

$184,72

9,69

$194,41

2. For value received, I promise to pay Asher L. Smith, or order, Nine Hundred Dollars, with interest. June 16, 1820.

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Established by the Supreme Court of the State of Connecticut in 1804. "Compute the interest to the time of the first payment; if that be one year or more from the time the interest commenced, 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 payment, and then deduct the paymen 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 payments 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."

1. For value received, I promise to pay Peter Trusty, or order, One Thousand Dollars, with interest. June 16, 1824.

$1000.

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JAMES PAYWELL.

$1571, 15, 1, 1, 15,
$871, 8, 15, 1, 2,
$218) 15, 6, 10.

Ans. $507,86.

62,50 interest to July 1, 1825, (12) months.)

$1062,50 amount.

250,00 1st payment deducted.

$812,50 due July 1, 1825.

54,84 interest to August 16, 1826, (13) months.)

$867,34 amount.

157,00 2d payment deducted.

$710,34 due August 16, 1826.

42,62 interest for 1 year.

$752,96

90,69

amount of 3d payment to August 16, 1827 (the end of the year), be ing 8 months.

$662,27 due December 1, 1826.

48,01 interest to February 16, 1828, (1 year 24 months)

$710,28 amount.

218,00 4th payment.

$492,28 due February 16, 1828.

15,58 interest to August 26, 1828, (6} months.)

$507,86 due August 26, 1828, the time of settlement.

*If a year does not extend beyond the time of payment; but if it does, then find the amount of the principal, remaining unpaid, up to the time of settle

2. For value received, I promise to pay John P. Smith, or order, Eight Hundred and Seventy-five Dollars, with interest. January 10, 1821.

$875.

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HARRY THOMSON.

Time.

$300

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$50

$150

1, 4, 1, 2.

7, 1, 4, 6, 1, 91,

What was due September 1, 1823? Ans. $174,95

¶ LXXVI. Practice in Compound Numbers.

Operations in compound numbers, as pounds, shillings, for instance, may be shortened by taking aliquot parts, as in Practice of Federal Money, ¶ XXVIII.

1. What is the cost of 28 bushels of salt, at 10 s. a bushel? In this example, 10s. £; then, of 28 bushels is the cost in pounds; thus,

28214£, Ans.

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2. What will 40 bushels of wheat cost, at 5 s.£ a bushel? At 10 s. £? At 4s, £? At 1s.=20£?

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I. Hence, when the price is an aliquot, or even part of a pound, we divide the number of gallons, yards, &c. by this aliquot part, as in ¶ XXVIII.

Exercises for the Slate.

·

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1. What will 8640 yds. of cloth cost, at 10s.= £a yd.? (4320) At 6 s. 8 d. =}£? (2880) At 5 s.£? (2160) At 4 s. £? (1728) At 3 s. 4 d. £? (1440) At 2 s. 6 d. — £ (1080) At 1 s. 8d.? (720) At 1 s. 4 d. =£? (576) At 1s. 3 d. =£? (540) Atls. =£? (432) At 10 d. = 24% = £? (360) At 8 d.=£? (288) At 5 d. £? (180) At 24 d. =£? (90) A. 16794£.

=

Note. The aliquot parts of a pound, in the following examples, may be found in the former examples.

2. What cost 20 gallons of brandy, at 6 s. 8 d. per gallon? (6,13,4).

3. What cost 8 yds. of broadcloth, at 10 s. per yard? (4) 4. What cost 25 bushels of rye, at 5 s. per bushel? (6,5) 5. What cost 30 bushels of oats, at 2 s. 6 d. per bushel? (3,15) Ans. 20£ 13 s. 4 d.

ment, likewise the amount of the payment or payments from the time they wers paid to the time of settlement, and deduct the sum of these several amounts from the amount of the principal.

6. What will 51 bbls. of cider cost, at 7 s. 6 d.

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cost, at 5s. per bbl.
cost, at 2 s. 6d. per bbl

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II. Hence, when the price is not an aliquot part of 1£, we may first find what is the greatest even part, and then take parts of this part, and so on, for several times.

7. What will 20 yds. of cloth cost, at 12s. 6d. per yard? (12,10) 8. What will 40 yards of cloth cost, at 15 s. per yard? (30) 9. What will 36 bushels of corn cost, at 7 s. 6 d. per bushel? (13,10)

10. What cost 12 bbls. of ale, at 17 s. 6 d. per bbl.? (10,10) A. 66£ 10 s.

11. What will 5 cwt. 3 qrs. 21 lbs. of sugar cost, at $9,60 per cwt. ?

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12. At $2,50 per yard, what will 5 yds. 2 qrs. of broadcloth cost? (1375) What will 4 yds. 1 qr. cost? (10625) Will 6 yds.

3 qrs.? (16875) Ans. $41,25.

13. 5 cwt. 3 qrs. 16 lbs., at $4,20 per cwt.? (2475) 14. 3 cwt. 1 qr. 7 lbs., at $3,60 per cwt.? (11925) 15. 4 yds 2 qrs., at $2,10 per yd.? (945)

16. 4 gals. 2 qts., at $3,40 per gal.? (1530) A. $61,425.

FELLOWSHIP.

¶ LXXVII. 1. Two boys, William and Thomas, trading with marbles, in company, gained 80 cents; William owned of the marbles, and Thomas ; what was each one's part of the gain?

2. James and Rufus, owning a sled, in company, sold it for $3 more than it cost, that is, $3 gain; Rufus owned of it, and James what was each one's share of the gain?

:

Q. What is the RULE of FELLOWSHIP? A. When men are trading in company, it ascertains the gain or loss to be shared by each.

Q. What is called STOCK, or CAPITAL? A. The money advanced or put in trade.

Q. What is called DIVIDEND? A. The gain or loss to be shared by each.

1. Three men, A, B, and C, traded in company; A put in $200, B $400, and C $600; they gained $300: what was each man's share of the gain?

In this example, it is evident, that B ought to have twice as much of the gain as A, for his stock is twice as much, and C 3 times as much as A; that is, each man's gain or loss ought to have the same relation to the whole gain or loss, as the money he put in has to the money they all put in. The same principle will apply in all cases in which a number is to be divided into parts, which shall have a given relation, or ratio, to each other, as the dividing a bankrupt's estate among his creditors, apportioning taxes, &c. Hence, from the foregoing example, we derive the following proportions:

A's stock,

$200

B's stock,
C's stock,

$400 1200 : 200 :: 300 :
$600 1200 400 300:

Whole stock, $1200) 1200 600 300

By ratios. These are 200

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400 600 1200, 1200, 1200 =

300 x, that is, of $300-$50, A's; of 300 = $100, B's,

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$150, C's gain.

Or, by analysis. If $1200 stock gain $300, then $1 stock will gain Too of $300,0% = $1. Now, if $1 gain $1, then of $200, A's stock, $50, A's gain; ≥ of $400, B's

stock, gain.

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= $100, B's gain; and of $600, C's stock, = $150, C's

This last method will generally be found the shortest, and best adapted to business; especially when there are several statements, in which all the first terms are alike, and all the third terms are alike.

PROOF. It is plain, that, if the work be right, the amount of the shares of the gain or loss must be equal to the whole gain or loss; thus, in the last example, A's is $50+ B's $100+ C's $150 $300, the whole gain.

What, then, is the RULE? As the whole stock to each man's stock the whole gain : to each man's gain.

2. Three merchants, A, B, and C, gained, by trading in com

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