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Note. I divide by 200, the number of months, in which fum will double at 6 per cent. per annum, and it gives the interest.

any

When partial payments are made upon notes, bonds, &c. at any interval greaterthan ayear, the interest is calculated in a progreffive manner, by adding the interest to the principal of the time of the first payment and from the fum deducting the payment, &c.

DISCOUNT

Is an allowance made for the payment of any fum of money, before it becomes due, and is the difference between that fum due fome time hence, and its prefent

worth.

The prefent worth of any fum, or debt, due fome time hence, is fuch a fum, as, if put to intereft, would in that time and at the rate per cent, for which the discount is to be made, amount to the fum or debt, then due.

RULE. As the amount of 100l. for the given rate and time, is to 1ool: So is the given fum or debt, to the prefent worth.

Subtract the prefent worth from the given fum, and the remainder will be the discount required.

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As the amount of 100l. for the given rate and time, is to the interest of 100l. for that time: So is the given fum or debt to the discount required.

EXAMPLES.

1. What is the discount of 6351. 175. due two years hence, at 5 per cent. per annum ?

A A

Int

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£. £.

444

204 Anf. £53 0 24d.

£. S. £. S. d.

Or, as 111: 100 :: 635 17: 572 16 94 present worth.

£.

And 635 17-572 16 9463 0 24 discount.

2. What is the prefent worth of 350l. payable in half a year, discounting at 61. per cent. per annum ?

Anf. 3391. 16 14. 3. What

3. What is the prefent worth of 651. due 15 months hence, at 61. per cent per annum ?

4.

Anf. 6ol. 9 34

What is the discount of 971. 10s. due January 22d, this being September 7th, reckoning intereft at 51. per cent. ? Anf. 11. 15 11.

5. Bought a quantity of goods for 25ol. ready money, and fold them for 3col. payable in 9 months; what was the gain, in ready money, fuppofing the discount to be made at 61. per cent. ?

BARTER

Anf. 371. 1 71

Is the exchanging of one commodity for another, and teaches traders to proportion their quantities without loss.

CASE I

When the quantity of one commodity is given, with its value, or that of its integer, that is of 1lb. 1Cwt. 1 yd. &c. as alfo the value of the integer of fome other commodity to be given for it, to find the quantity of this; or, having the quantity thereof given, to find the rate of felling it.

RULE. Find the value of the given quantity by the concifeft method, then find what quantity of the other at the rate propofed, you may have for the fame money : Or, if the quantity be given, find from thence the rate of felling it.

EXAMPLES.

1. How much tea, at 9/6 per lb. must be given in barter for 156 gallons of wine, at 12s. 34d. per gallon?

3d.

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114)1536(13 214 Anf. 201lb. 13131403.

114

396

342

54

3. Suppofe A has 350 yards of linen at Is. 4d. per yard, which he would truck with B for fugar at 25s. 6d. per Cwt. ; how much fugar will the linen come to?

Cwt. qr. lb Anf. 18 J 53.

4. A has broadcloth, at 12 10s. per piece, and B has mace, at 8s. per lb. ; how many pounds of mace must B give A for 35 pieces of cloth? Anf. 10934lb. 5. A has 7 Cwt. of fugar, at 8d. per lb. for which B gave him 12 Cwt. of flour; what was the flour rated

at per

lb. ?

Anj. 43d.

CASE II.

If the quantities of two commodities be given, and the rate of felling them, to find, in cafe of inequality, how much of fome other commodity must be given.

RULE. Find the feparate values of the two given commodities fubtract the lefs from the greater, and the difference will be the amount of the third commodity, whofe quantity and rate may be eafily found.

EXAMPLES.

1. Two merchants barter; A has 30 Cwt. of cheese, at 13s. 6d. per Cwt. and B has 4 pieces of broadcloth, at 31. 158. per piece; which must receive money? and, how much? Anf. B must pay A 11. 105.

2. A and B would barter; A has 150 bushels of wheat at 5s. 9d. per bushel; for which B gives 65 bushels of barley, worth 2s. 1od. per bushel, and the balance in oats, at 2s. Id. per bufhel; what quantity of oats muft A receive from B? Anf. 325 bushels.

CASE III.

Sometimes, in bartering, one commodity is rated above the ready money price; then to find the bartering price of the other, fay, As the ready money price of the one is to its bartering price, fo is that of the other, to its bartering price: Next find the quantity required, according to either the bartering or ready money price. EXAMPLES.

A A 2

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