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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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