Synopsis
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. 1909 Excerpt: ...exact interest on: 2. $800 from April 15 to June 21 at 5%. 3. $15,000 from May 29 to June 24 at 4%. 4. $3,650 from April 2 to May 31 at 5%. 5. $500 from Jan. 15 to Feb. 23 at 6%. Interest Tables 123. Bankers and others frequently use an interest table. A part of an interest table is shown opposite. The complete table consists of a similar page for each dollar from $1 to $99, for multiples of $100, and for multiples of $1000. Thus, the interest on $87 at 3% for 33 da. is found in the column headed 3%, opposite 33 in the central or time column. Result, $.24: Example: What is the interest on $87 for 2 yr. 3 mo. 18 da. at6%? Solution: (1) Interest for 2 yr. (from table) $10.44 (2) " "3 mo. "" 1.31 (3) " "18 da. "".26 (4) " "2 yr. 3 mo. 18 da $12.01 ORAL EXERCISES Find from the table the interest on $87 for: 1. 27 da. at 12%. 2. 4 yr. at 4%. 3. 11 mo. at 8%. Solve: 4. A note for $87 runs 93 da. at 6%. What is the interest? 5. How can interest at 2% be found from interest at 5%? WRITTEN EXERCISES What is the interest on $87 for: 1. 7 mo. 8 da. at 6%? 2. 1 yr. 2 mo. 28 da. at 4%? 3. 5 mo. 10 da. at 2£%? 4. 2 yr. 9 mo. at 4£%? As we have only one page of the table, the principal must remain $87 in our problems. With the complete table, interest on any principal is found similarly. To find the interest on $7,849, the interest would be found (for the given time and rate) on the pages for $7,000, $800, $49, and these amounts would be added. To Find the Time 124. To find the time when the principal, the rate, and the interest are given, Divide the given interest by the interest on the principal for 1 yr. at the given rate. Example: The interest on $300 for a certain time at 6% was $30. What was the time? Solut...
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