Thus in Example 1. 2 The sum, Remainder, 8,216282 ×50 2. What is the present worth of 751. yearly rent, which is not to commence until 10 years hence, and then to continue 7 years after that time at 6 per cent. ? Ans. £233 15s. 9d. S. What is the present worth of the reversion of a lease of 60 dollars per annum, to continue 20 years, but not to commence till the end of 8 years, allowing 6 per cent. to the purchaser ? Ans. $431 78ets. 2m IV. To find the present worth of a Freehold Estate, or an Annuity to continue forever, at Compound Interest. RULE. As the rate per cent. is to 100%. : so is the yearly rent to the value required. EXAMPLES. 1. What is the worth of a Freehold Estate of 401. per annum, allowing 5 per cent. to the purchaser ? As £5 £100 £40 £800 Ans. 2. An estate brings in yearly 150l. what would it sell for, allowing the purchaser 6 per cent. for his money? Ans. £2500 V. To find the present worth of a Freehold Estate, in 1. Find the present value of the estate (by the foregomg rule) as though it were to be entered on immediately, and divide the said value by that power of the ratio denoted by the time of reversion, and the quotient will be the present worth of the estate in Reversion. EXAMPLES. 1. Suppose a freehold estate of 40l. per annum to commence two years hence, be put on sale; what is its value, llowing the purchaser 5l. per cent. ? As 5 100: 40: 800-present worth if entered on immediately. Then, 1,05 1,1025)800,00(725,62358-725l. 12s. 53d. =present worth of £800 in two years reversion. Ans. OR BY TABLE III. Find the present worth of the annuity, or rent, for the time of reversion, which subtract from the value of the immediate possession, anu you will have the value of the estate in reversion. Thus in the foregoing example, 1,859410-present worth of Il. for 2 years. 40 annuity or rent. 74,376400-present worth of the annuity or rent, for [the time of reversion. From 800,0000 value of immediate possession. £725,6236=£725 12s. 54d. Ans. 2. Suppose an estate of 90 dollars per annum, to commence 10 years hence, were to be sold, allowing the purchaser 6 per cent.; what is it worth? Ans. $837, 39cts. 2m. S. Which is the most advantageous, a term of 15 years, in an estate of 100l. per annum; or the reversion of such an estate forever after the said 15 years, computing at the rate of 5 per cent. per annum, compound interest? Ans. The first term of 15 years is better than the reversion forever afterwards, by £75 18s. 7d. A COLLECTION OF QUESTIONS TO EXERCISE THE FOREGOING RULES. 1. I demand the sum of 1748 added to itself? Ans. 3497. 2. What is the difference between 41 eagles, and 4099 di:nes? Ans. 10cts. 3. What number is that which being multipled by 21, the product will be 1965 ? Aus 65. Ans. Í 20: 4. What number is that which being divided by 19, the quotient will be 72 ? Ans. 1368 5. What number is that which being multiplied by 15, the product will be ? 6. There are 7 chests of drawers, in each of which there are 18 drawers, and in each of these there are six divisions, in each of which is 161. 6s. 8d.; how much money is there in the whole ? Ans. £ 12348. 7. Bought 36 pipes of wine for 4536 dollars; how must I sell it a pipe to save one for my own use, and sell the rest for what the whole cost? Ans. $129, 60cts. 8. Just 16 yards of German serge, For 90 dimes had I; Will 14 eagles buy? Ans. 248yds. Sqrs. 2 na. 9. A certain quantity of pasture will last 963 sheep 7 weeks, how many must be turned out that it will last the remainder 9 weeks ? Ans. 214. 10. A grocer bought an equal quantity of sugar, tea, and coffee, for 740 dollars; he gave 10 cents per lv. for the sugar, 60 cts. per lb. for the tea, and 20 cts. per lb. for the coffee ; required the quantity of each? Ans. 8221b. 3oz. 8 dr. 11. Bought cloth at 814 a yard, and lost 25 per cent how was it sold a yard ? Ans. 93 cts. 12. The third part of an army was killed, the fourth part taken prisoners, and 1000 fled; how many were in this many killed, and how many captives? Ans. 2400 in the army, 800 killed, and 600 taken prisoners. 13. Thomas sold 150 pine apples at 33} cents a piece, and received as much money as Harry received for a certain number of water-mellons, which he sold at 25 cents a piece; how much money did each receive, and how many, mellons had Harry ? Ans. Each received 850, and Harry sold 200 mellons. 14. Said John to Dick, my purse and money are worth 91. 2s. but the money is twenty-five times as much as the parse; I demand how much money was in it ? Ans. £8 15s. army, how 15. A young man received 210l. which was of his elder brother's portion; now, three times the elder brother's portion was half the father's estate; what was the value of the estate ? Ans. £1890. 16. A hare starts 40 yards before a grey-hound, and is not perceived by him till she has been up 40 seconds; she scuds away at the rate of ten miles an hour, and the dog, on view, makes after her at the rate of 18 miles an hour: How long will the course hold, and what space will be ran over, from the spot where the dog started? Ans. 60 sec. and 530yds. space. 17. what number multiplied by 57 will produce just what 134 multiplied by 71 will do? Ans. 1665%. 18. There are two numbers, whose product is 1610, the greater is given 46; I demand the sum of their squares, and the cube of their difference? Ans. the sum of their squares is 3341. The cube of their difference is 1331. 19. Suppose there is a mast erected, so that of its } length stands in the ground, 12 feet of it in the water, and of its length in the air, or above water; I demand the whole length? Ans. 216 feet. 1 20. What difference is there between the interest of 500l. at 5 per cent. for 12 years, and the discount of the same sum, at the same rate, and for the same time ? Ans. 112 10s. 21. A stationer sold quills at 11s. per thousand, by which he cleared of the money, but growing scarce raised them to 13s. 6d. per thousand; what might he clear per cent. by the latter price ? Ans. £96 7s. 3d. 22. Three persons purchase a West-India sloop, towards the payment of which A advanced, B, and C 1401. How much paid A and B, and what part of the vessel had C? 4 Ans. A paid £267, B £305, and C's part of the vessel was 1. 23. What is the purchase of 12007. bank stock, at 108 per cent.? Ans. 1848 10s. 24. Bought 27 pieces of Nankees, each 121 TIEL, @ 14s. 44d. a piece, which were so d at 18d. a yard; required the prime cost, what it sold for, and the gain. £. s. d. Prime cost, 19 8 1 23 5 9 S 17 7 Ans. 25. Three partners, A, B and C, join their stock, and buy goods to the amount of £1025,5; of which A put in a certain sum; B put in....I know not how much, and C the rest; they gained at the rate of 241. per cent.: A's part of the gain is 1, B's, and C's the rest. Required each man's particular stock. £. A's stock was 512,75 Ans. B's 10's 205,1 307,65 26. What is that number which being divided by 1, the quotient will be 21 ? Ans. 154. 27. If to my age there added be, One-half, one-third, and three times three, Ans. 66. 28. A gentleman divided his fortune among his three sons, giving A 91. as often as B 5l. and to C but sl. as often as B 71. and yet C's dividend was 25841.; what did the whole estate amount to ? Ans. £19466 2s. 8d. 29. A gentleman left his son a fortune, of which he spent in three months; of the remainder lasted him 10 months longer, when he had only 2524 dollars left; what did his father bequeath him? Ans. $5889, 38cts.+ So. In an orchard of fruit trees, of them bear apples, pears, plums, 40 of them peaches, and 10 cherries; how many trees does the orchard contain? Ans. 600. 31. There is a certain number, which being divided by 7, the quotient resulting multiplied by 3, that product divided by 5, from the quotient 20 being subtracted, and 30 added to the remainder, the half sum shall make 65; Sou tell me the number? Ans. 1400. |