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96 Table for reducing Pounds, &c. 10 Dollars, &c. Sect. II. gi

TABLE

For reducing the currencies, &c. continued.

New-Hamp.

&c. &e.

New-York, New Jersey, South-Caroli.
&c.
&c. &c.

&c.

ko
D.c.m.
D.c.m.

D.c.m. D.c.m.
3,333

2,5
2,666

4,286
2
6,667

5,0
5,333

8,571
3
10,000

7,5
8,000

12,857
4
13,333

10,0
10,667

17,143
5
16,667

12,5

13,333 21,4.29
6
20,000

15,0
16,000

25,714
7
23,333

17,5
18,667

30,000
8
26,667

20,0
21,333

34.286
9
30,000

22,5
24,000

38,571
10
33,333

25,0
26,667

42,857
20
66,667

50,0
53,333

85,714 30 100,000

75,0

80,000 128,571 40 133,333

100,0 106,667 171,429 50 166,667

125,0 133,333 214,286 60 200,000

150,

160,000 257,143 70 233,333

175,

186,667 300,000 80 266,667

200,

213,333 342,857 90 300,000

225,

240,000 385,714 100 333,333

250, 266,667 428,571 200 666,567

500, 533,333 857,143 300 1000,000

750,

800,000 1285,714 400 1333,333

1000, 1066,667 1714,286 500 1666,667 1250, 1333,333 2142,857 600 2000,000

1500, 1600,000 2571,429 700 2333,333

1750,

1866,667 3000,000 800 2666,666 2000, 2133,333 3428,571 900 3000,000 2250, 2400,000 3857,143 1000 3333.333

2500, 2666,667 4285,714

TABLE,
For reducing Federal Money to the currencies of the several

United States.
New-Hamp New York, New-Jersey, | South Caroli.
&c. &c,

&c.
&c. &c.

&c.
Dol. 61.
Dol. 88.

Dol. 4/8
D. cts. fis.d.q. fis.d.q. fo. s.d.q. ko. s.d.q.

3
10
10

2
1 2
2 0
1 3

10 2 1 SO 2 3

1 3 30 3 3 3 2

2 1 S 2 4. 3 4 2

2 3 4 1 5 3 5 2

31 5 O 6 3 6 1

4 O 508.' 5 3 3

4 2
6.2
8 3
8

5
71
9 2
O

5 2

Dol. 7/6.

,01
,02
,03
,04
,05
,06
307

,09 ,

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Sect. II. 3. Table for reducing dollars, &c. to Pounds, &c. 97

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,20 ,30 940 950 ,60 ,70 ,80 ,90

-29

00 36

1, 2,

3, 4, 5,

6,

7,

8,

9,

514

71 -29 86

43 100 57 14 71 43 *14 586 57 9.9 00 71

10, 20 30

40

50

£o. s. d. q.

171 2 4 3 3 2 2 400 4 9 2 541 6 4 3 7 2 2 800 1600 1 4 0 0 1 12 0 0 2 000 2 800 2 16 0 0 3 400 3 12 00 4 OUO 8 12 16 20 24 28 32 36 40 80 120 160 200 240 280 320 360 400 800 1200 1600 2000 2400 2800 3200 3600 4000

N

60

14

d.q.

k. s. d.q.

1 2 2
1 9 2
2 4 3
300
371
4 2 2
4 92
5 4 3
600
12 0 0

18 O O
1 400
11000
1 16 0 0
2 2 0 0
2 800

2 14 0 3 00 6

£. s. d. q.

1 60
2 30
300
3 90
4 60
5 30
600
6 90
7 6 0
15 00
1 2 6 0
1 1000
117 6 0
2 500
2 12 6 0
3 000
3 7 6
3 150
7 100
11 50
15 00
18 15 0
22 10
26 5 ☺
30 00
33 15 0
37 10 0
75 00
112 10 0
150 00
187 100
225 00
262 100
300 00
337 10 0
375 00
750
1125
1500
1875
2250
2625
3000
3375
3750

£ s.

111 1 4 3 1 10 2 2 4 0 2 92 3 3 1 3 8 3 4 2 2 4 80 9 4 0 14 00

18 80 1 3 4 0 1 8 0 0 1 12 80 1 17 40 2 2 0 0 2 6 80 4 13 4 7 0 0 9 6 8 11 13 4 14 0 0 16 6 8 18 13 4 21 0 0 23 6 8 46 13 4 70 6 0 93 6 8 116.13 4 140.00 163 6 8 186 13 210x 0 0 33: 6 8

13 4 Όσο ο 933 6 8 1166 13 4 1400 0 1633 6 8 1866 13 4 2100 0 0 2333

9
12
15
18
21
24
27
30
60
90
120
150
180
210
240
270
300
600
900
1200
1 500
1800
2100
2400
2700
3000

70
80
90
100
200
300
400
500
600
700
800
900
1000
2000
3000
4000
5000
6000
7000
8000
9000
10000

di.

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§ 4 Interest.

INTEREST is the allowance given for the use of money, by the Borrower to the Lender. It is computed at so many dollars for each hundred lent for a year, (per annum) and a like proportion for a greater or less time. The highest rate is limited by our laws to 6 per. Cent. that is 6 dollars for a hundred dol. Jars, 6 cents for a hundred cents, £. 6 for a £100, &c. This is called legal interest, and is always understood when no other rate is mentioned.

THERE are three things to be noticed in Interest.
1. THE PRINCIPAL ; or, money lent.
2. THE RATE ; or, sum per cent, agreed on.
3. THE AMOUNT ; or, Principal and Interest added together.
INTEREST is of two sorts, simple and compound.
1. SIMPLE INTEREST is that which is allowed for the principal only.

2. COMPOUND INTEREST is that which arises from the interest being added to the principal and (continuing in the hands of the lender) becomes a part of the principal, at the end of each stated time of payment.

GENERAL Rule.
1. For one year, multiply the principal by the rate, from the product cut off
the two right hand figures of the dollars, which will be cents, those to the left
hand will be dollai's ; or, which is the same thing, remove the separatrix, from
its natural place two figures towards the left hand, then all those figures to the
left hand will be dollars, and those to the right hand will be cents, mills, and
parts of a mill.
In the same way is calculated the interest on any sum of money in pounds, shillings,

pence, and farthings, wiih this difference only, that the two figures cut off to
the right hand of pounds, must be reduced to the lowest denomination, each time
cutting of as at first.
2. For two or more years, multiply the interest of one year by the number

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of years.

3. For months, take proportional or aliquot parts of the interest for 1 year that i9, for 6 monhts, į ; for 4 months, } ; for 3 months, 1 &c.

4. For daystake proportional or aliquot parts of the interest for 1 month, allowing 30 days to a month.

EXAMPLES.

1. WHAT is the interest of Dolls. 86,446 for one year, at 6 per cent?

OPERATION.
Dolls. cts. m.

In the product of the principal multi-
86, 44 6 princifal. plied by the rate is found the answer.
6 rate.

Thus, cutting off the two right hand

figures from the dollars leaves 5 on the 5118, 67 6 Interest. left hand which is dollars, the two fig

ures cut off (18) are cents, the next figure (6) is mills, all the figures which may chance to be at the right hand of mills, are parts of a mill, lience we collect the Answer, 5 Dolls. 18 cís.670m.

2. What is the interest of Dolls. 365 14618. 6mills, for 3 years, 7 months and 6 days?

OPERATION.
3 6 5, 1 4 6 principal.

6 rate.

6 Months 1)2 19 0,8 7 6 interest for one year.

3

6 5,7 2 6 2 8 interest for 3 years.
1 Month 3)1 0,9 5 4 3 8 interest for 6 months.
6 Days 1) 1,8 2 5 7 3 interest for 1 month.

3 6 5 1 4 interest for 6 days.

78,8 7 15 3 interest for 3 years, 7 months, and 6

days; that is 78 dolls. 87 cis. 1106 m. BECAUSE 7 months is not an even part of a year, take two such numbers as are even parts and which added together will make 7 (6 and 1,) 6 months is į of a year, therefore, for 6 months, divided the interest of 1 year by 2 ; again, i month is of 6 months, therefore, for 1 month, divide the interest of 6 months by 6. For the days, because 6 days is of a month, or of 30 days, therefore, for 6 days, divide the interest of 1 month by 5. Lastly add the interest of all the parts of the time together, the sum is ihe answer. 3. What is the interest of £71 78.6d.

4. What is the interest of 168. for 1 year, at 6 per cent.

8d. for 1 year? Ans. 1. shilling. OPERATION. fo

d.

9. 71 7. 6

6

2

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When the rate is 6 PERCENT, there is not, perhaps, a more concise and easy way of casting Interest, on any sum of money in Dollars, Cents, and Mills, than by the following

METHOD,

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by 2

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and }

.

WRITE down half the greatest even number of months for a multiplier ; if there be an odd month it must be reckoned 30 days, for which and the given days, if any, seek how many times you can have 6 in the sum of them, place the figure for a decimal at the right hand of half the even number of months, already found, by which multiply the principal ; observing in pointing off the product, to remove the decimal point or separatrix two figures from its nature al place towards the left hand, that is point off' two more places for decimals in the product, than there are decimal places in the multiplicand and multiplier counted together; then all the figures to the left hand of the point, will be dollars, and those to the right hand, dimes, cents, mills, &c. which will be the interest required.

SHould there be a remainder in taking one sixth of the days, reduce it to a vulgar fraction, for which take aliquot parts of the multiplicand. Thus, If the remainder be le, divide the multiplicand by 6 .

2
2

by 3
If

3If

by 3 twice, If

by 2 and 3. The quotients which in this way occur, must be added to the product of the principal multiplied by half the months, &c. the sum thus produced, will be the interest required.

When there are days, but a less number than 6, so that 6 cannot be contained in them, put a cypher in place of the decimal at the right hand of the months: then proceed in all respects as above directed. Note. In casting interest, each month is reckoned 30 days,

EXAMPLES.
1. What is the interest of Dolls. 76,54 for 1 year, 7 months, and 11 days?

OPERATION.
7 6, 5 4

THE number of months being 19, the
9 6

greatest even number is 18, half of which is.

9, which I write down ; then seeking how 4 5 9 2 4

often 6 is contained in 41, (the sum of the 6 8 8 6

days in the odd month and the given days) 3 8 2 7

I find it will be 6 times, which I also set 2 5 5 1

down at the right hand of half the even

number of months for a decimal, by which Ans. 7,4 I

together I multiply the principal. In taking
one sixth of the days (41) there will be a re-
mainder of 5= and { for which I take, first
one half the multiplicand, that is, divide the
multiplicand by 2, then by 3 and these quo-

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2

Dols,

tients added, with the products of half the even number of months &c. the sum of them will shew the interest required, observing to count off two more figures for decimals in the product than there are declinal figures in both the multiplier and multiplicand, counted together.

For the conciseness and simplicity of the above method, it is conceived, that Instructors will recommend it to their Pupils in preference to any other

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