Inhaltsangabe
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1828 Excerpt: ... given? g How, when cents and mills are also given? A How is Federal Money exchanged to New York and North Carolina currency? i How is Pennsylvania, &c. currency exchanged to Federal Money when pounds only are given? j How, when shillings and pence are also given? k When farthings are also given, how are they to be disposed of? I How is Federal Money changed to Pennsylvania, &c, currency? a Discount Is an allowance made for the payment of money before it becomes due, and is the difference between that sum and its present worth. b As the amount of 100 dollars, for the given rate and time, Is to 100 dollars, So is the given sum, To its present worth: e which subtracted from the given sum, will leave the discount. 1. What is the discount of $325,75 due 18 months hence, at 6 per cent? QUESTIONS. DISCOUNT. RULE. EXAMPLES. 100 9 £ No. of months 9,00 Interest. 100 As 109: 100:: $325,75 100--325,75 109)3257500(298,85,3+ 218 $26,89,7 Ans. 1077 981 965 872 930 872 580 545 350 327 23 1, in the first place, calculate the interest on 100 dollars for the given time, (18 months) and find it $9, which added to 100 is 109; I then state it according to the rule and say, as 109 is to 100, so is 325,75 to $298,85,3 which subtracted from the given sum leaves the discount $26,89,7. 2. What is the discount of $750 payable in 3 years, at 6 per cent. Ans. $114,41 +. 3. What is the present worth of $75,25, due in one year and 4 months, at 5 per cent? Ans. $70,54+ 4. A. holds a note against B. for $345,50, due in 10 months after date: what sum will discharge the debt at the present time, discounting at the rate of 7 per cent, per annum? Ans. $326,45,7+ 5. What deduction must be made for the prompt payment of a note of $565, due 2 years hence, discounting at the rate of 5...
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