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2. WHAT is understood by 6 PER CENT? 3 PER CENT? 8 PER CENT? UC.
3. WHAT per cent, per annum is allowed by Law to the Lender for the use of
his Money?

4. WHAT is understood by the PRINCIPAL? the RATE? the AMOUNT?
5. Of how many kinds is interest? in what does the difference consist?
6. How is simple interest calculated for one year, in Federal Money?
7. For more years than one, how is the interest found?

8. When there are months and days what is the method of procedure?

9. WHAT other METHOD is there of casting interest on sums in Federal Money ? 10. WHEN the days are a less number than 6, so that 6 cannot be contained in

them, what is to be done?

11. How is simple interest cast in pounds, shillings, pence, and farthings? 12. When partial payments are made, at different times, how is the interest cal

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5. WHAT is the interest of £41 118. 31d. for a year and 2 months?

Ans.

2 18 21.

6. WHAT is the interest of Dolls. 273,51 at 7 per cent for 1 year and 10 days? Ans. Dolls. 19,677.

7. SUPPOSING a note of Dolls. 317,92 dated July 5, 1797, on which were the following payments; Sept. 13, 1799, Dolls. 208,04. March 10, 1800 Dolls. 76; what was the sum due Jan. 1, 1801 ? Ans. Dolls. 83,991.

§ 5. Compound Multiplication.

COMPOUND MULTIPLICATION is when the Multiplicand consists of several denominations. It is particularly useful in finding the value of Goods. THE different denominations in what was formerly called Lawful Money, render this rule with some others in Arithmetic, as Compound Division and Practice, rules of great usefulness, quite tedious, and the variety of cases necessarily introduced, extremely burthensome to the memory. This lumber of the mind might be almost wholly dispensed with, were the habit of reckoning in Federal Money generally adopted thro' the U. States.

FOR important reasons, Pounds, Shillings, Pence, and farthings ought to fall wholly into disuse: Federal Money is our National Currency; the Scholar might encompass the most useful rules of Arithmetic in half the time; the value of commodities, bought and sold, might be cast with half the trouble, and with much less liability to errors, were all the calculations in money universally made in Dollars, Cents, and Mills. But this, to be practised must be taught; it must be taught in our schools, and so long as the prices of goods, and almost every man's accounts are in Pounds, Shillings, Pence and Farthings, this mode of reckoning must not be left untaught.

To comprise the greater usefulness, and also to shew the great advantage which is gained by reckoning in Federal Money, I have contrasted the two modes of account, and in separate columns, on the same page, have put the same questions in Old Lawful, and in Federal Money.

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d.

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EXAMPLES.

1. What will 7 yards of cloth cost at 5 price of 1 yard. Doils. 1,57 (equal to 9f5) per yard? 7 yards.

11 price of yards.

I SAY, 7 times 5 is 35 pence 3/11. I set down 11 and carry 2, saying, 7 times 9 is 63, and 2 I carry is 658. C.3 58. which I set down.

OPERATION.

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CASE 2.

When the quantity exceeds 12 and is any number within the MultiplicationTable, multiply by two such numbers, as when multiplied together, will produce the given quantity.

If no two numbers will do this exactly, multiply by two such numbers, as come the nearest to it, and by the deficiency or excess, multiply the multiplicand, and this product added to, or subtracted from the first product, as the case may require,gives the answer. EXAMPLES.

1. What will 42 yards of cloth cost at 15/9 per yard?

OPERATION. d.

Multiplied by

4

Multiplied by

Ans. 33

8.

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4. What will 42 yards of cloth cost at Dolls. 2,625 per yard?

OPERATION.

D. cts. m.

2,6 2 5

4 2

5250

1 0 5 0 0

Dolls. 1 1 0,2 5 0 Answer.

Because 6 times 7 is 42, I multiply the price of 1 yard by 6 and this product by 7, as the rule directs.

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WHEN the multiplier, that is, the quantity, exceeds 144,multiply first by 10 and this product again by 10 which will give the price of 100 yards &c. and if the quantity be even hundreds, multiply the price of one hundred by the number of hundreds in the question, and the product will be the answer; if there are odd numbers, multiply the price of 10 by the number of tens, and the price of unity, or 1, by the number of units, then these several products added together will be the answer.

Ans. Dolls. 942,50

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