Full text: On the value of annuities and reversionary payments, with numerous tables (Vol. 1)

XTU 
EXPLANATION OF THE CONSTRUCTION AND USE OP THE 
TABLES IN PART I. 
By means of Table I., the decimal parts of a pound, corresponding to 
any number of shillings, pence, and farthings, may be found by inspec 
tion. 
Table II. shows the decimal parts of a year corresponding to any 
number of days, by means of which, when the rate for a whole year is 
given, the proportionate part for any number of days is easily found. 
Example. A borrows a sum, for the loan of which he is to pay 
simple interest at the rate of £74 6 10 per annum, but wishing at the 
expiration of 27 days to repay the amount, it is required to know what 
sum he must pay for interest ? 
By Table I., £74 6 10=74.34166 
which multiplied by the number j 
opposite 27 days in Table II., i. 0739726 
viz. . . . J 
gives 5.499=£5 10, the interest required. 
Table III. shows the amount of £l in any number of years, and is 
constructed by multiplying the amount of £l in one year by itself, 
which gives the amount of £l in two years; this again multiplied by 
the amount of £l in one year, gives the amount at the end of three 
years; and so on for any number of years. 
At 4 per cent the amount of £l in one year is 1.04 
this multiplied by . . . . 1.04 
gives 1.0816 = 
the amount of ¿£l at the end of two years. 
1.0816 X 1.04=1.124864=the amount of ¿£l at the end of three 
years. 
Again, 1,124864 x 1.04= 1.16985856=the amount of £l at the 
end of four years. 
By means of this table the amount of any sum in a given number of 
years may be found by multiplying the amount of £l in the given time, 
by the sum of which the amount is required. 
Example. To find the amount of £56 in 18 years at 3^ per cent 
compound interest, we look in the table under 3^ per cent opposite to 
18 years, and there find 1.85748920, which, multiplied by 56, gives 
104,018=£ 104 0 4, the amount required. 
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