Sinossi
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. 1878 Excerpt: ... are dollars in the principal; hence, the following 587. Rule.--Divide the given interest by the interest of $1 for the given time at the given rate. EXAMPLES FOR PRACTICE. 588. 1. What sum of money will gain $110.25 in 3 yr. 9 mo. at 1%? Solution.--The interest of $1 for 3 yr. 9 mo. at 1%, is $.2625. Now since $.2625 is the interest of $1 for the given time at the given rate, $11025 is the interest of as many dollars for the same time and rate as $.2625 is contained times in $110.25. Hence $110.25-5-5625 = $420, the required principal. What principal or sum of money 2. Will gain $95,456 in 3 yr. 8 mo. 25 da. at 1%? 3. Will gain $63,488 in 2 yr. 9 mo. 16 da. at %%? 4. Will gain $106,611 in 3 yr. 6 mo. 18 da. at 6%? 5. Will gain $235,609 in 4 yr. 7 mo. 24 da. at 9%? 6. Will gain $30,636 in 1 yr. 9 mo. 18 da. at 5£$? 7. Will gain $74221 in 2 yr. 3 mo. 9 da. at 589. Pbob. VI.--To find the principal when the amount, time, and rate are given. Observe, that the amount is the principal plus the interest, and that the interest contains the interest (564) of $1 as many times as there are dollars in the principal; consequently the amount must contain (506) $1 plus the interest of $1 for the given time at the given rate as many times as there are dollars in the principal; hence, the following 590. Etjle.--Divide the amount by the amount of $1 for the given time at the given rate. EXAMPLES FOR PRACTICE. 591. 1. What sum of money will amount to $290.50 in 2 yr. 8 mo. 12 da. at 6%? Solution.--The amount of $1 for 2 yr. 8 mo. 12 da. at 6% is $1,162. Now since $1,162 is the amount of $1 for the given time at the given rate, $290.50 is the amount of as many dollars as $1,163 is contained times in it. Hence, $290.50.+-$1,162 = $250, is the required principal. 2. What pr...
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