A Written Arithmetic, for Common and Higher Schools; to Which Is Adapted a Complete System of Reviews, in the Form of Dictation Exercises

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1873 edition. Excerpt: ... Rule. (Art. 274.) 2. When Less than a year's interest has accrued at the time of a payment, except it be the last payment, find the difference between the amount of (he principal for an Entire year, and the amount of the payment for the balance of a year asser it is made; this difference will form the new principal. 3. If the interest which has arisen at the time of a payment exceeds the payment, no interest will be computed upon the payment, but only upon the principal. 1. $1000. Hartford, March 9, 1855. In one year from date, for value received, I promise to pay Geo. Yates or order, one thousand dollars, with interest, at 6%. Joseph W. Boomer, Jr. ENDORSEMENTS. Received Nov. 19, 1855, $204; Mar. 3, 1857, $50; June 15, 1858, $600; Nov. 1, 1858, $85. What balance was due Jan. 1, 9? Ans. $241.798. Operation. $ 1060 Amount of principal from Mar. 9, '55 to Mar. 9, '56, (1 y.). 207.74 " 1st payment from Nov. 19, '55 to" "(3J m. 8.52.26 Balance, forming 2d principal. 51.135 Interest from Mai-. 9, '56 to Mar. 9, '57, (1 jr.). 903.395 Amount. 50. 2d payment, being less than interest, has no interest. 853.395 Balance, forming 3d principal. 64.857 Interest from Mar. 9, '57 to June 15, '58, (1 yr. 3 m. 6 d.). 918.252 Amount. 600. 3d payment, time being more than 1 year, has no interest, 318.252 Balance, forming 3d principal. 10.396 Interest from June 15, '58 to Jan. 1, '59, (6 m. 16 d.). 328.648 Amount of 3d principal to time of last payment. 85.85 Amount of $85 from Nov. 1, '58 to Jan. 1, '59, (2 m.). $242.798, Ana. Balance due Jan. 1, '59. $277. Annual Interest. Ill. Ex. What is the amount due on a note for $1000, interest payable annually, if no payment should be made till the expiration of 4 y. 6 m. 12 d.? The holder..