61. 3. What is the interest of 5717. 13s. 9d. for one year, at per cent. ? Ans. £34 6s. O¦d. 4. What is the interest of 21. 12s. 91d. for a year, at 67. per cent.? Ans. £0 38. 2d. FEDERAL MONEY. 5 What is the interest of 468 dols. 45 cts. for one year, at 6 per cent.? $ cts. 468, 45 6 28|10, 70 $28, 10cts. 7m. Ans. 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 principal 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 dolls. 25 cts. for a year et 6 per cent? $cts. 135, 25 6 811, 50 $8, 11cts. 5m. Ans. 7. What is the interest of 19 dollars 51 cents for one year,at 5 per cent.? $ cts. 6 5* 97,,55-97cts. 5 m. Ans 8. What is the interest of 436 dollars for one year, at per cent ? 6 ANOTHER METHOD. Write down the given principal in cents, which multi ply 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. Ans. 441,90cts.=441 cts. or $4, 41cts. 9m 10. Required the interest of $85, 45cts. for a year, at: 7 per cent.? Cents. Principal 8545 7 Ans. 598, 15 cents, $5,98cts 14m. CASE II. To find the simple interest of any sum of money, for any number of years, and parts of a year. GENERAL RULE. 1st. Find the interest of the given sum for one year. 2d. Multiply the interest of one year by the given number of years, and the product will be the answer for that time. 3d. If there be parts ofa 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 san ŋe. * *By allowing the month to be 30 days, and taking alquot, parts thereof, you will have the interest of any ordinary sun 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 git days: to the interest required. number of EXAMPLES. 1. What is the interest of 75l. 8s. 4d. for 5 years and 2 months, at 67. per cent. per annum ? £. S. d. 75 8 £. 4 6 Interest for 1 year. 2. What is the interest of 64 dollars 58 cents for 3 years, 5 months, and 10 days at 5 per cent.? $ 64,58 Ans. 1112,19-1112cts. or $11, 12c. 11⁄2m. 3 What is the interest of 789 dollars for 2 years, at 6 per cent. ? 4. Of 37 dollars 50 cents, for per annum ? 5 5. Of 325 dollars 41 cts. for 3 per cent. ? Ans. $94, 68cts 4 years, at 6 per cent. Ans. 900cts. or $9. years and 4 months, at Ans. $54, 23cts. 5m. 6. Of 325l. 12s. 3d. for five years at 6 per cent. ? Ans. £97 13s. 8d. 7. Of 1747. 10s. 6d. for 3 and a half years at 6 per cent. ? Ans. £36 13s. 8. Of 1507. 16s. 8d. for 4 years and 7 months, at 6 per cent. ? Ans. £41 9s. 7d 9. Of 1 dollar for 12 years at 5 per cent.? and a half per cent. ? Ans: 60cts. 10. Of 215 dollars 34 cts. for 4 and a half years, at 3 Ans. $33, 91cts. 6m. 11. What is the amount of 324 dollars, 61 cents, for 3 years and 5 months, at 6 per cent. ? Ans. $430, 10cts. 8,25m. 12. What will 30007. amount to in 12 years and 10 months at 6 per cent. ? Ans. £5310. 13. What is the interest of 2571. 5s. 1d. for 1 year and 3 quarters, at 4 per cent. ? Ans. £18 Os. 1d. 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. 71m. 15. What will 2797. 13s. Sd. 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, 911cts. 17. What will 730 dols. amount to at 6 per cent. in 5 years, 7 months and 12 days, or of a year ? 12 365 Ans. $975, 99cts. 18. What is the interest of 1825. at 5 per cent. pe annum, from March 4th, 1796, to March 29th, 1799, (allowing the year to contain 365 days?) Ans. £280. NOTE.-The Rules for Simple Interest serve also to calculate Commission, Brokerage, Ensurance, or any thing else estimated at a rate per cent. IS an allowance of so much per cent., to a factor or cor respondent abroad, for buying and selling goods for his employer 5 EXAMPLES. 1. What will the commission of 3437. 10s. come to at per cent. ? Ans. $62, 44cts. 3. What may a factor demand on 13 per cent. commission for laying out 3568 dollars? BROKERAGE, IS en allowance of so much per cent. to persons assisting merchants, or factors, in purchasing or selling goods. EXAMPLES. 1 What is the brokerage of 7501. 8s. 4d. at 6s. 8d. per cent. ? 2. What is the brokerage upon 4125 dols. at 3 or 75 Cnts per cent. ? Ans. $30, 93cts. 7m. 3. If a broker sell goods to the amount of 5000 dols. What is his demand at 65 cts. per cent. ? L* Ans. $32, 50cts. |