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EXAMPLES.

1. What is the interest of 751. 8s. 4d. for 5 years and 2 months, at 6l. per cent. per annum ?

£. S. d.

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2. What is the interest of 64 dollars, 58 cents, for 3 years, 5 months, and 10 days, at 5 per cent.?

$64,58

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Ans. 1112,19=1112cts. or $11, 12c. 1m. 3. What is the interest of 789 dollars for 2 years, at 6. per cent. ?

4. Of 37 dollars 50 cents for 4

annum ?

Ans. $94, 68cts. years at 6 per cent. per Ans. 900cts. or $9

5. Of $25 dollars 41 cents, for 3 years and 4 months,

at 5 per cent. ?

Ans. $54, 23cts. 5m.

6. Of 325l. 12s. 3d. for 5 years, at 6 per cent. P

7. Of 174l. 10s. 6d, for 3 and

cent. ?

Ans. £97 13s. 8d. a half years at 6 per Ans. £36 15s.

8. Of 150 16s. 8d. for 4 years and 7 months, at 6 per

sent. ?

Ans. £41 9s. 7d,

9. Of 1 dollar for 12 years at 5 per cent.?

Ans. Cacts. 10. Of 215 dollars 34 cts. for 4 and a half years, at 3 and a half per cent. ? Ans. $33, 9icts. 6m. 11. What is the amount of 324 dollars, 61 cents, for 5 years and 5 months, at 6 per cent.?

Ans. 8430,

10cts. 835m. 12 years and 10

12. What will 3000l. amount to in months, at 6 per cent.?

3 quarters, at 4 per cent.?

Ans. £5310. 13. What is the interest of 257l. 5s. 1d. for 1 year and Ans. £18 Os. 1d. Sqrs. 14. What is the interest of 279 dollars, 87 cents for 2 years and a half, at 7 per cent. per annum ? Ans. $48, 97 cts. 74m 15. What will 279l. 13s. 8d. amount to in 3 years and a half at 5 per cent, per annum?

Ans. £531 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, 91žets. 17. What will 780 dols. amount to at 6 per cent. in 5 years, 7 months and 12 days, or of a year? Ans. 8975, 99cts. 18. What is the interest of 1825l. at 5 per cent. per 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, Insurance, or any thing else estimated at a rate per

cent.

COMMISSION,

IS an allowance of so much per cent. to a factor or corespondent abroad, for buying and selling goods for his employer

EXAMPLES.

1. What will the commission of 848k 10s. come to at 5 per cent. ?

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£42 3s. 6d.

2. Required the commission on 964 dols. 90 cts. at 21 per cent.? Ans. 821, 71cts. 3. What may a factor demand on 1 per cent. commission, for laying out 3568 dollars ?

BROKERAGE,

Ans. $62, 44ets.

IS an allowance of so much per cent. to persons assisting merchants, or factors, in purchasing or selling goods.

EXAMPLES.

1. What is the brokerage of 750l. 8s. 4d. at 6s. 8d. per cent. ?

d.

£. S. 750 8 4

1

7,50 8 4

20

10,08

12

1,00

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2. What is the brokerage upon 4125 dols. at or 75 vents per cent. ?

Ans. $30, 93cts. 73m. 3. If a broker sells goods to the amount of 5000 dels. what is his demand at 65 cts. per cent. ?

Ans. 832, 50cts

4. What may a broker demand, when he sells goods to the value of 508l. 17s. 10d. and I allow him 1 per cent. ? Ans. £7 12s. 8d.

INSURANCE,

IS a premium at so much per cent. allowed to persons and offices, for making good the loss of ships, houses, merchandize, &c. which may happen from storms, fire, &c.

EXAMPLES.

1. What is the insurance of 725l. 8s. 10d. at 121 per rent ? Ans. £90 13s. 74d. 2. What is the insurance of an East-India ship and cargo, valued at 123425 dollars, at 151⁄2 per cent. ? Ans. $19130, 87cts. 5m. 3. A man's house estimated at 3500 dollars, was insured against fire, for 1 per cent. a year: what insurance did he annually pay? dns. $61, 25cts.

SHORT PRACTICAL RULES,

For calculating Interest at 6 per cent. either for months, or months and days.

1. FOR STERLING MONEY.

RULE.

1. If the principal consists of pounds only, cut off the unit figure, and as it then stands it will be the interest for one month, in shillings and decimal parts.

2. If the principal consists of pounds, shillings, &c. re duce it to its decimal value; then remove the decimal point one place, or figure, further towards the left hand, and as the decimal then stands, it will shew the interest for one month, in shillings, and decimals of a shilling.

EXAMPLES.

1. Required the interest of 541. for seven montus and ten drafs, al 6 per cent

S.

10 days=15,4 Interest for one month.

7.

37,8 ditto for 7 months.
1,8 ditto for 10 days.

ins. 39,6 shillings=£1 19s. 7,2d.

12

7,2

2. What is the interest of 42. 10s. for 11 months, at 6 per cent.?

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£. s. d.

Ans. 46,75 Interest for 11 mo. = 2 6 9

8. Required the interest of 941. 7s. 6d. for one year, five months and a half, at 6 per cent. per annum.

Ans. £8 5s. 1d. 3,5grs. 4. What is the interest of 12. 18s. for one third of a month, at 6 per cent. ? Ans. 5,16d.

II. FOR FEDERAL MONEY

RULE.

1. Divide the principal by 2, placing the separatrix as usual, and the quotient will be the interest for one month in cents, and decimals of a cent; that is, the figures at the left of the separatrix will be cents, and those on the right, decimals of a cent.

2. Multiply the interest of one month by the given number of months, or months, and decimal parts thereof, or for the days take the even parts of a month, &c.

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