# The Universal Library of Trade and Commerce; Or, a General Magazine for ... All ... Concerned in Business, or the Education of Youth ... Containing I., the Art of Penmanship ...

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## Description

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1747 edition. Excerpt: ...for 6 Years, and multiply the 6th Year's Amount by the Find the Amount Principal given. Or it will be the same Thing to multiply the third Term continually, by t, o5, according to the Number of Years, 'till you have the Amount, as before found, and to multiply it by the Number of Years propos'd. After this Method is the first lnterest Table made, which shews the Amount of II. for any Number of Years under 45, at the Rates of 3, 4, 5, 6, 7, and 8 per Cmt. per An num. The Use of which is very easy; for 'tis only multiplying the tabular Number under the given Rate, ardstactiuding against the Number of Years pr0p0s'd, by the Principal Money, their Product is the Amount requird. Multiply the Amount os 11. for one Year, into the first yearly Payment; then add the second yearly Payment to the Product, the Sum is the Amount in two Years: This again multiplyfil by the same Amount, the Product, with the Addition of the third yearly Paymcnt, is the Amount for three Years; and so proceed continually for any greater Number of Years. ' EXAMPLE. What will a Pension of 251. per Azmum amount to, being forborn 4 Years, at 61. per Cmt. per Amzum? 26, 50 _ To which add the 2d Year's Payment 25 _ gives 51, 50 the Amount for 2 Years... 1O6 4.,3746r the Amount of 1 I. Annuity for 4 Years, at 6 per Cent. Multiply'd by 25 RBBATE, or DISCOUNT. S this Rule has been sufficiently explain'd in Whole Numbers, I am only to shew how readily the Discount of any Sum of Money may be COmpLit-Td by Decinials. N. B. That the Sum of Money paid vdown instead of the Principal, duc hereafter, may properly be call'd the prtstnt H/ortb; in regard, that if it were put out to Interest for the Days that the Discount is computed, it would amount to the Principal, due at the End of those...show more

## Product details

• Paperback | 32 pages
• 189 x 246 x 2mm | 77g
• United States
• English
• black & white illustrations
• 1236855256
• 9781236855251