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3. What is the interest of 5711. 13s. 9d. for one year, at 61. per cent. ?

Ans. £34 6s. 01d. 4. What is the interest of 21. 12s. 9 d. for a year, at 61. per cent. ?

Ans. £0 3s: 2d. FEDERAL MONEY. 5. What is the interest of 468 dols. 45 cts. for one year, at 6 per cent. ?

$ cts. 468, 45

6

Ans. 28/10, 70-$28, 10 cts. 7m. Here I cut off the two right hand integers, which divide by 100: but to divide federal money by 100, you need only call the dollars so many cents, and the inferior denominations decimals of a cent, and it is done.

Therefore you may multiply the principał by the rate, and place the separatrix in the product, as in multiplication of federal money, and all the figures at the left of the separatrix, will be the interest in cents, and the first figure on the right will be mills, and the others decimals of a mill, as in the following

EXAMPLES.

6. Required the interest of 135 dols. 25 cts. for a year at 6 per cent ?

cts. 135, 25

6

7. What 5 per cent. ?

Ans. 811, 50–98, 11 cts. 5 m. the interest of 19 dols. 51 cts. for one year, at

cts, 19, 51

5

Ans. 97, 55=97 cts. 51m. 8. What is the interest of 436 dols. for one year, at 6 per cent. 1

6

Ans. 2616 cts. =$26, 16 cts.

K

ANOTHER METHOD).

Write down the given principal in cents, which multiply by the rate, and divide by 100 as before, and you will have the interest for a year, in cents, and decimals of a cent, as follows:

9. What is the interest of $73, 65 cents for a year, at 6 per cent. ? Principal 7365 cents.

6

Ans. 441,90=441,5 cts. or $4, 41 cts. Om. 10. Required the interest of $85, 45 cts. for a year, at per cent. ?

Cents.
Principal 8545

7

Ans. 598, 15 cents,=$5,98 cts. lim.

CASE II

To find the simple interest of any sum of money, number of years,

and parts of a year.

for any

GENERAL RULE.— Ist. Find the interest of the given sum for one year.

2d. Multiply the interest of ono 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.

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1. What is the interest of 751. 8s. 4d. for 5 years and 2 months, at 61. per cent per annuni 3

£. d.
75
8 4

£. s. d.
6 2 mo.=)4 10 6 Interest for 1 year.

5
0
20

22 12 6 do. 5 years.

0 15 1 do, for two months. 1050 12

£23 7 7 Ans.

4152 10

600

2. What is the interest of 64 dollars 58 cents for 3 years, 5 months, and 10 days, at 5 per cent. ?

$ 64,58

5

322,90 nterest for 1 year in cents, per 3

[Case L

4 mo. 1 mo. 10 days,

1

per cent. ?

968,70 do. for 3

years. 107,63 do. for 4 months. 26,90 do. for 1 month.

8,96 do. for 10 days.

Ans. 1112,19=1112cts. or $ 11, 12c. 1, %n. Ž. What is the interest of 789 dollars for 2 years, at 6

Ans. $94, 68 cts. 4. Of 37 dollars 50 cents for 4 years, at 6 per cent. per annum?

Ans. 900 cts, or $9. 5. Of 325 dollars 41 cts. for 3 years and 4 months, at 5

Ans. $54, 23 cts. 5 m. 6. Of 3251. 12s. 3d. for five years, at 6 per cent. ?

Ans. £97 13s. 8d. 7. Of 1741. 10s. 6d. for 3 and a half years, at 6 per cent.?

Ans. £36 13s. 8. Of 1501. 16s. 8d. for 4 years and 7 months, at 6 per cent. ?

Ans, £41 9s, 7d.

per cent. ?

at 5

9. Of i dollar for 12 years, per

cent.?.

Ans. 60 cts. 10. Of 215 dollars 34 cts. for 4 and a half years, at 8 and a half per cent.

Ans. $33, 9i cts. Om. 11. What is the amount of 324 dollars 61 cents for 5 years and 5 months, at 6 per cent. ?

Ans. $430, 10 cts. 8.m. 12. What will 30001, amount to in 12 years and 10 months, at 6 per cent. ?

Ans. £5310. 13. What is the interest of 2571. 5s. ld. for 1 year and 3 quarters, at 4 per cent. ? Ans. £18 Os. Id. 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 years and a half, at 51 per cent. per annum?

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 annum ?

Ans. $488, 91; cts. 17. What will 730 dols. amount to at 6 per cent. in 5 years, 7 months, and 12 days, or V's of a year?

Ans. $975, 99 cts. 18. What is the interest of 18251. at

per cent. per annum, from March 4th, 1796, to March 29th, 1799, (allow ing the year to contain 365 days ?)

Ans. £280. Note. The Rules for Simple Interest serve also to cal. culate Commission, Brokerage, Ensurance, or any thing else estimated at a rate per cent.

COMMISSION, IS an allowance of so much per cent., to a factor or correspondent abroad, for buying and selling goods for his employer.

EXAMPLES

1. What will the commission of 8431. 10s. come to ut 6 per cent. ?

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per cent. ?

600

£12 3s. 6d. 2. Required the commission on 964 dols. 90 cts. at 2}

Ans. $21, 71 cts. 3. What may a factor demand on 13 per cent. cominission for laying out 3568 dollars ? Ans. $62, 44 cts.

BROKERAGE, IS an allowance of so much per cent. to persons assistSaniy merchants, or factors, in purchasing or selling goods.

EXAMPLES.

1. What is the brokerage of 750l. 8s. 4d. at Cs. 8d. per cerit. ?

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750 8.4 Here I first find the brokernge at 1 pound
1 per cent. and then for the given rate,

which is į of a pound.
7,50 8 4
20

s. d.

6 8=?)7 10 10
10,08
12

Ans. £2 10 0 1}

£. s. d.grs.

1,00

2. What is the brokerage upon 4125 dols. at or 75 cents per cent. ?

Ans. $30, 93 cts. 71 m. 3. If a broker sell goods to the amount of 5000 dollars, what is his demand at 65 ets. per cent. ?

Ans. $32, 50 %

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