COMPOUND INTEREST. 
27 
s = 350 
* \ — mra ^ 
1 + — 
m 
ì — *06 
’06\ -2 x 5 
m = 2 
(! + -1. 
03 _1 ° =. 744094 
053 
2232282 
372047 
260.4329 = £260 8 8 
By logarithms, 
co log 1.03 = 1.98716278 
10 
log (1.03)" 10 = 1.8716278 
log 350 = 2.5440680 
2.4156958 260.433 =£260 8 8 
A has a claim upon B of £925 payable r at the end of 6 years, but 
for the present payment thereof allows him a discount at the same rate 
as that which may be obtained in the 3 per cents when the price of 
stocks is 92i. What sum has B to pay ? 
s = 925 n = 6 m = 2 
92è 
1 + 
6 
185 
*2 = 
= 1 + 
* 6 
m 185 
3 _ 188 
T85 ~ 185 
2.2671717 
log 188 = 2.2741578 
/188 
_3^ 
185 
i 
m 
log 185 
-M 1+ sJ =-MW = 1 - 99301 ?® 
12 
T. 9161668 
log 925 = 2.9661417 
2.8823085 = 762.620 =£762 12 5 
41. To find (s) the sum due. 
By substituting in the formula of Art. 36, — for i, and vm for n, 
= V 1 + 
i Y fl 
m J 
we have s = p 
By logarithms, 
log S = log p + 772n . log 
, as found also by Art. 28. 
1 + 
Rule. Find the amount of £l at the end of the first interval, raise 
it to the same power as the number of intervals of conversion in the 
time, and multiply by the present value. 
Example. £260 8 8 is paid for the present value of a sum to he 
received 6 years hence. What will the person making the payment be 
then entitled to, allowing 8 per cent compound interest payable quar 
terly ?