and computing interest on the several endorsements by this method, the whole principal would be paid, and the lender would be indebted to the borrower the sum of D2.00, while in fact, the lender had received no part of the sum lent. The difference of the rules depends on the principle assumed in respect to the time when the interest becomes due, and which party has a right to receive it.

REVIEW.

What is simple interest? How many parts are there which require attention in interest? Name them. How do you compute interest for days? What is the interest of D1799.89 for 1700 days, at 93 per cent.? How can you calculate interest for months at 6 per cent.? How can you calculate at any other rate per cent.? How do you compute interest for years? When interest is required for years, months, days, &c., how will you proceed? What is the interest of D979.99 for 9 years, 9 months, 9 weeks, and 9 days, at 9.9 per cent. ? What is bank interest? What is the rule? What can you say of the correctness of the method of calculating bank interest? When the amount and rate per cent. are given to find the principal, by what rule will you work? What is the rule when the principal, amount, and time, are given, to find the rate per cent. ? What is the rule to find the time, when the principal, amount, and rate per cent., are given? What can you say in relation to the computation of interest on notes, &c., where partial payments are made?

INSURANCE, COMMISSION, AND BROKERAGE.

INSURANCE is an agreement by which an individual or a com pany agrees to exempt the owners of certain property from loss or hazard. The written agreement is called the policy. The premium is the amount paid by him who owns the property to those who insure it, as a compensation for their risk. It is generally so much per cent. on the value of property insured. Commission is an allowance made to a factor, or a commission merchant, for buying and selling. Brokerage is an allowance made to dealers in money or stocks. The calculations may all be made according to the rule of simple interest for one year (See rule 3.

QUESTIONS.

1. Required the insurance on D60, at 21 per cent.?

Ans. 60x2.5=D1.50.

2. Required the commission on D50 at 21 per cent.

Ans. D1.25. 3. Sold goods to the amount of D200 at .75 per cent. commission; how much was received?

Ans. D1.50.
D2.67.

4. What is the commission on D89 at 3 per cent. ? 5. What is the insurance on D300 at 4.5 per cent.? D13.50. 6. What is the insurance on D700 at 5.5 per cent.? D38.50. 7. What is the insurance on a ship and cargo valued at D20000 at 6 per cent.? Ans. D1300. 8. A house valued at D10000 which is insured at 1.5 per cent., required the insurance. Ans. D150.00. 9. B. collected a county tax of D10000, for which he received a commission of 31 per cent., what sum did he receive? Ans. D350.00. 10. A. sold to B. goods to the amount of D99, and gained 5.5 per cent. on the sale; what was his gain? Ans. D5.44.5. 11. What sum must you pay for the use of D85 at 6 per cent? Ans. D5.52.5. 12. If I borrow D160, and agree to pay 1.5 per cent. for the use of it, how much must I pay? Ans. D2.40. 13. Sixty-nine shares of bank stock, of which the par value is D125, is at a discount of 8 per cent.; what is its value?

Ans. D7935.

14. What would be the insurance on a ship valued at D47520, at per cent..? also at per cent. ? Ans. D237.60; D158.40. 15. What would be the insurance on a house valued at D14000, at 1 per cent.? at 3 per cent.? at per cent. ? at per cent. ? at per cent.? Ans. D210; D105; D70; D46.66; D35.

16. What is the insurance on a store and goods valued at D15000, at 11 per cent.? at 13 per cent. ? at 24 per cent.? at 33 per cent.? at 41 per cent. ? at 51 per cent. ?

17. If a policy be taken out for D781.25 to cover D625, required the premium per cent.

Thus, D781.25: 625 :: 100: 80: then 100-80 Ans. 20 per ct. 18. It is required to cover D759, premium 8 per cent.; for what sum must the policy be taken?

Ans. D100-8-92: 100 :: 759: 825.

REVIEW.

What is insurance? commission? brokerage? and policy?

COINS.

COINS, CURRENCY, &c.

A table showing the weight and value of the several coins of the

United States.

Eagle,

10 7

11

6

10 00

0

dwt., and The

per

All Gold of equal fineness to be valued at 89c. all Silver Coins of the same fineness at D1.11 per ounce. standard for Gold is 11 parts of fine and 1 part of alloy. The standard Silver is 1485 parts of pure silver to 179 parts of alloy, which is to be wholly of Copper.

The above tables are calculated and arranged to the actual use at the United States mint, for estimating the value of gold Note.-In England, where accounts are kept in pounds, shil lings, pence, and farthings, the pound is always estimated at 20

Sillings, the shilling at 12 pence, and a penny at 4 farthings. The pound sterling is not a coin, although there are bank notes of that denomination. The pound sterling in this country is now estimated at D4.87.5, which would make the shilling=24 cents nearly.

REMARKS.

The value of the Eagle coined prior to the 31st of July, 1834, is D10.66.8+, which contains 247.5 grains of pure gold+22.5 grains alloy 270 grains, standard weight. By computation, it will be found that every 23.2 grains of pure gold are equal in value to D1, and 25.8 grains of United States standard are also equal to D1.

To find the value of any Gold Coin whatsoever.

RULE.

Reduce its weight of pure gold to grains (troy), and divide by 23.2 for the value in dollars, cents, and mills.

1. Required the value of 1lb. of pure gold.

Thus, 1lb. x 12×20×24÷23.2-D248.27.525 Ans. 2. Required the value of 1lb. standard gold of the U. States. Thus, 1lb. × 12×20×24÷25.8=D223.25.535 Ans. A TABLE OF FOREIGN COINS, &c.-Showing their value in the United States as established by acts of Congress-not given in the preceding tables :—

3. In 50 pounds sterling, how many dollars?

Ans. 4.87.5×50=243.75D