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To calculate interest by the preceding table.

the Rule. Multiply the sum by the rate per cent and that product by the months, weeks or days given; then cut off the two last figures to the right hand, and enter the table with whať re. mains to the left; against which numbers, collected, is the interest for the given sum. Note. For every 10 cut off in in months, add ad. for every

30 in weeks, add id. and for every 40 in days, add Iqr.

1 What is the interest of 24661 16s 6d. for 10 months, at 4 per cent. per annum?

£.is .d.

900-75 4

80 6 13 4

6 10 0
9867 6 0 Add
! IO

4. 82' 4 61 answer. 98673 0 0 2 What is the interest of 24671 iosi for 12 weeks, at s per cent. per annum ?

L. $. d.

1000=194 77 6. 3.

4003 7 13 10 2467 10X 5*12=14801507 80 i 10 9

Add 2

answer. 281 gs sd, 3. What is the interest of 24677 103. for so days, at 6 per cept. per annum?

. L. S. d. 7000=19 36

400= I i 2467 10X6x50=74021509

Add .

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ans. 201 58.7d. . To find what any estate from :). to 50000l. per annum will be for a month, or a day;..

! RULE.'

RULE. Collect the sums from the table opposite the given numbers for the answer.

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Loro o per day. to 30 8: 4 per month. To find the amount of any income, salary or servant's wages, for any number of months, weeks or days ;

RULE. Multiply the yearly income, or salary, by the number of months, weeks or days, and collect as before from the table.

EX A M P L E. What will 270l. per annum come to for 11 months, for 3 weeks, and for '6 days, separately and collectively?

6 S. d.

* p160 14 4 . : 270X11=29703 75 Ö ö ..;

l 5 16 8

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11

CA TABLE
Of Days for any given time less than a Year.

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II THE USE OF THE TABLE.

First, To know the number of days, from the beginning of the year, to any given day of any month :

This is obtained by inspection only.

Secondly, To find the number of days from any day in any month to the end of the year. Suppose from 10th 9mo. From ' • *

365 Take the days answering to 10th Imo. 253 Remains

Days 112 Thirdly, To find the number of days between different dates.

Suppose the 9th of the 5th month, and the 5th of the with month.

From the number answering to 5th 11mo. 309
Take that of the 9th 5mo. ' -' :

129 . Remains .'12

Days 180 Fourthly, To find the number of days from a given date, to some other in the year following: Suppose from 12th 10mo. to 10th 6mo. ensuing. · From :

. -
Take the number answering to 12th 10mo. 285

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To which add the 10th 6mo.

Days required. Le Note. If the intercalary day of a leap year intervene, one · day must be added to those found as before.

COMPOUND INTEREST.

Compound interest is that which arises from a principal increased by its interest as the interest becomes due.

195

E RULE. . Find the first year's amount by simple interest, which will be the principal for the second year; and the amor nt of this will be the principal for the third year, &c.,

From the last amount, take the given principal, and the remainder will be the compound interest.

EXAMPLES.

1 What is the compound interest of 450l. for three years, at 5 per cent. per annum ?

fr. S. d. Principal

450 0 0 Interest id= 22 10 0

Amount 1st year 472 10 0.
7 Interest=qb= 23 12 6

Amount 2d year496 2 6
Interest=zb= 24 16 11
Amount 3d year *520 18 71
Principal

450

answer 6.70 18 7 2. What will 4001. amount to in 4 years, at 6 per cent. per annum?

. .. answer 5041. 198. 90.1 3 How much is the compound interest of 1280 dols, for six years, at 5 per cent, per annum ? answer 435,32,2 mills.

4 What will 5001. amount to in 4 years, at 41 per cent. per annum?

- answer 5901. 11s, 5d. * 5 What is the compound interest of 4001, 10s, at 31 per cent, per annum, for three years ?. answer 431. 1os. 91.1

: REBATE, OR DISCOUNT.

DEBATE, or Discount, is an abatement for the paye J m ent of money before due, by accepting so much, as would amount to the whole debt at the time payable, at a given rate.

RULE!

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