62 
ON THE VALUE OF ANNUITIES. 
Example. What is the interest of ¿£500 for 123 days at 5 per cent 
simple interest ? 
In Table 2, opposite 123 days, we have .336986 
this multiplied by .05 
gives .0168493 
which multiplied by 500 
gives 8.42465 = 
Answer £8 8 6. 
92. When the interest is to be found for a given number of years 
and days, prefix the number of years to the decimal parts of a year cor 
responding to the number of days, and multiply as before. 
Example. What is the interest of £500 for 4 years and 123 days at 
5 per cent ? 
Prefixing 4 to the decimal for 123 days, we have 4.336986 
this multiplied by .05 
gives = .2168493 
which multiplied by 500 
gives 108.42465 =: 
£108 8 6 Answer. 
93. To find the interest without the aid of the table, multiply twice 
the rate per cent by the number of days, then multiply the principal by 
the result and divide by 73000.“ 
Example. What is the interest of ¿£500 for 123 days at five per 
cent ? 
500 
10 
5000 
123 
73.000)615.000(8.424 = 886 
584 
310 
292 
180 
146 
340 
Or, instead of dividing by 73000, we may divide first by 100000, 
then the result by 3, and this quotient again by 10, and the result again 
by 10, the sum of the quotients will be the interest required. 
Required the interest of £715 8 6 for 120 days at 3£ per cent.