10 days=};5,4 Interest for one frontli, 37,8 ditto for 7 months. Ans. 39,6 shillings=£1 19s. 7,2d. 12 2. What is the interest of 421. 10s. for 11 months, at 6 £. So 4. s. . 3. Required the interest of 941. 7s. fid. for one year, five months and a half, at 6 per cent. per anum. Ans. 8 5s. 1d. 5,597's. 4. What is the interest of 121. 18s. for one third of a math, at 6 per cent. ? Ans. 5,16d. II. FOR FEDERAL MONEY RULE. a. Divide the principal by 2, placing the separatrix as cisual, 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 numa months, or months, and decimai parts thereof, or for die slays take the even nuuts of a nunti, &c. EXAMPLES. 1. What is the interest of 341 dols. 52 cts. for 7 months 2)S41,52 Or thus, 170,76 Int. for 1 month 170,76 Int. for 1 month. X7,5 months 73 85380 1195,52 do. for 7 mo. 119532 85,38 do. for } mo. $ cts. m. 1280,700cts. =12,807 1280,70 Ans. 1280,7cts.=$12, 80cts. 7m. 2. Required the interest of 10 dols. 44 cts. for 3 years. 5 months and 10 days 2) 10,44 10 «lays=}). 5,22 Interest for 1 month. 41 months. 915,7Ccts. Ans.=82, 15cts. 71. to 3. What is the interest of 342 dollars for 11 months ? The } is 171 Interest for one months 11 Ans, 1881cts.=$18, 81cts. NOTE: To find the interest of any sum for 2 months, atô per cent. you need only call the dollars so many cents, and the inferior denominations decimals of a cent, and it is done : Thus, the interest of 100 dollars for two months, is 100 cents, or 1 dollar; and $25, 40 cts. is 25 cts. 4 m. &c. which gives the following RULE II. Multiply the principal by half the number of months, and the productivill shew the interest for the given time. in cents and decimals of a cent, as above. EXAMPLES. [ Required the interest of 316 dollars for 1 year and 10 months. 11=half the number of mo. Ans. S476cts.=834, 76cts. ... What is the interest of 564 dols, 25cts. for 4 months? $ cts. 564, 25 2 half the months. 28, 50cts. Ans.=67, 28cts. 512. II. When the principai is given in federal money, at Gyer cent. to find how much the monthiy interest will be i:' New-England, &c. currency. RULE. Multiply the given principal by ,03 and the product will be the interest for one inonth, in shillings and deci. mal parts of a shilling. EXAMPLES. 1. What is the interest of 325 dols. Cor 11 months ? ,03 9,75 shil. int. for 1 month. X11 months. hus. 107,258.=£5 7s. Sd. 2. What is tile interest in New England currency, of 31 Jols. 68 cts. for 5 months ? Principal 31,68 dols. ,03 ,9504 Interest for one month. 5 wijls. 4,7520s.-4s. 9d. 12 IV. When the principal is given in pounds, shillings, &c. New-England currency, at 6 per cent. to find how much the monthly interest will be in federal money. RULE. Multiply the pounds, &c. by 5, and divide that product by 3, the quotient will be the interest for one monthe in cents, and decimals of a cent, &c. EXAMPLES. 1. A note for £411 New-England currency has been on interest one month ; how much is the intexest thereof in federal money? ti Sus. 685cts.=86, 85cts. 2. Required the interest of 391. 18s. N. E currency, for 7 months ? f. 5 Ditto for months, 465,5cés.=$4, 65cts. 511. Ansa V. When the principal is given in New-Englanů and Virginia currency, at 6 per cent, to find the interest for a year, in dollars, cents antimills, by inspection. NDIE. Since the interest of a year will be just so many cents as the given principal contains shillitus, therefore, write down the skillings and call them cents, and the pence in the principal made less by 1 if they exceed 3, or by 2 when they exceed 9, will be the mills, very nearly.. EXAMPLES. 1. What is the interest of 21. 5s. for a year at 6 per ct.? £2 58.=458. Interest 45cts. the Answer. 2. Required the interest of 1001. for a year at 6 per ct.? £100x2000s. Interest 2000cts.=820 Ars. S. Of 27 s. 6d. for a year? Ans. 27s. is 27 cts. and 6d. is 5 mills. 4. Required the interest of 5l. 10s. 11d. for a year ? £5 108.=110s. Interest 110cts.=$1, 10cts. One 11 pence- per rule leaves 0= 9 EXAMPLES, VI. To compute une interest on any note or obligatio”, when there are payments in part, or indorsements. RULE. 1. Find the annount of the whole principal for the whole time. 2. Cast the interest on the several payments, from the time they were paid, to the time of settlement, and find their amount; and lastly deduct the amount of the several payments, from the amount of the principal. Suppose a bondi or note dated April 17, 1793, was given for 675 dollars, interest at 6 per cent. and there were payments indorsed upon it as follows, viz. First payment, 148 dollars, May 7, 1794. Third payment, 99 dols. Jan. 2, 1798. I demand how much remains due on said note, the 17th of Juno, 1798 ? Sels. Yi. mo. 56, 50 interest up to--June 17, 1798.=4 1) 181, 50 amount. 541, CO second payment, Aug. 17, 1796. Ir. mo. 57, 51 Interest to June 17, 1798. = 10 $78, 51 aplount. Carried over: |