COMPOUND INTEREST BY DECIMALS. A TABLE of the amount of 11. at 6 per cent. per annum, for months. Modec part. || Mo.\L. dec. part. \\ Mo.\L. dec. part 1,00187 5 1,02457 9 1,04467 1,02956 3 1,01467 7 1,03457 1,0196: 8 1,03961 A TABLE of the amount of 1l from 1 day to 31 days, at 6 per cent. per annum. days. dec. part. |\days.\£. dec. part.'\davs. £-dec_parts. 1 1,00010 12 1,00197 22 *1,0036: 1,00378 1,00230 14 24 1,00394 4 1,00065 15 1,00246 1,00082 16 1,00263 1,00098 17 1,00279 27 1,00443 7 1,00+15 18 1,00295 2800460 19 1,00312 | 29 1,00476 1,00493 ΙΟ 100164 21 1,00345 Mo... dec parts Mu dec. parts Mo. L. dec pts. at per cent. per month, When the principal, the rate of intereft, and time are given, to find either the amount or intereft, RULE I. Find the amount of 11. for 1 year, at the given rate per cent. 2. Involve 2. Involve the amount, thus found, to fuch power as is denoted by the number of years-or, in Tableft, at the end of annuities, under the rate and against the giv en number of years, you will find the power * 3. Multiply this power by the principal; or given fum, and the product will be the amount required, from which, if you fubtract the principal, the remainder will be the intereft., EXAMPLES. 1. What is the compound intereft of 6col for 4 years, at 6 per cent. per annum ? Amount of 11. for 1 year. 157,486176=1571. 95. 8d. Int. required. By The amounts of 11. in this table, are fo many powers of the amount of 11 for 1 year, whole indices are denoted by the number of years. }} Note. When the given time confifts of years and months, or years, months and days; Firft feck the amount, of 11. in the Fable for years, then, in the Table of months, &c. multiply thefe feveral amounts and the principal continually together, and the taft product will be the amount required. Thus, if the amount of 4801 in 5 years, at 6 per cent, per annum, were required; the amount of 1 for 5 years= 1.33822 ditto for 6 months 1,02956. Now, 1,33822 X · 3,02956X480 = £661,2341,Anf. Amount =757,4861400 Another way of working Compound Intereft for years, months, and days which is much more concife than the preceding method. RULE. To the logarithm of the principal, found in any l'able of logarithms, add the feveral logarithms, anfwering to the number of years, months, and days, found in the following Tables, and their fum will be the logarithm of the amount for the given time, which being found in any table of logarithms, the natural number correfponding thereto will be the answer. Logarithmick Tables at 6 per cent. per annum, for years, months, and days. s days 2,05061214103072-22-556732-341,809762: 2,0043005 2 4 1 2 3 2 5 21: 000071 8000571 14,000999 20,001426 26,001852 000143 9000642 15,00107 21,0J1497 27,001923 3 000215 10 000713 16,001142 22,001568 28,001994 C00287111000785 17,00121323,001639 29,002065 500035812000857 18.001284 24,00171 30,001301 60004293 000928 19,001355 25,001781 31,002207 7 10005 What annum, for What is the amount of 1321. 10s. at 6 per cent. per 2,36807 the nearest to which, in the Table of Logarithms, is 2,36810, and the natural number anfwering thereto is 233,4 2331. 89. Anf. CASE II. When the amount, rate and time are given, to find the principal. RULE. Divide the amount by the amount of 11. for the given time, and the quotient will be the principal. Or, If you multiply the present value of 11. for the given number of years, at the given rate per cent. by the amount, the product will be the principal, or prefent worth. EXAMPLE. What is the prefent worth of 7571. 9s. 8d. due 4 years hence, discounting at the rate of 61. per cent. per annum ? By fab. ift divide by the tab ular amount of 11. for 4 years.) CASE III. When the principal, rate and amount are given, to find the time. RULE. Divide the amount by the principal, then divide this quotient by the amount of 11. for 1 year, this quotient by the fame till nothing remain, and the number of the divifions will fhow the time Or, Divide the amount by the principal, and the quotient will be the amount of il. for the given time, which feek under the given rate in Table 1ft, and in a line with you will fee the time. it EXAMPLE. In what time will 6ool. amount to 7571. gs. 8d. at 6 per cent. per annuin, compound interest? Divide the amount by the principal,=600)757,486176(1,26247696 (=quotient to be divided by 1,06 till it can be had no more; or you may find it in Table 1ft, under 6 per cent and against 4 years. Divide by 1,06)1,26247696 When the principal, amount and time are given, to find the rate per cent. RULE. Divide the amount by the principal, and the quotient will be the amount of 11. for the given time: then, extract fuch root as the time denotes, and that root will be the amount of 11. for 1 year, from |