The Franklin Written Arithmetic : With Examples for Oral Practice
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j. Wliat is the amount of $ 200 for 3 years 3 months at 10 % ?
METHODS OF COMPUTING INTEREST. 211 METHODS OP COMPUTING INTEREST.
To THE Teacher. Two methods of computing interest are given m the following pages ; but the teacher is advised to have pupils use but one.
The method by aliquot parts will be found on page 308 of the Appendix.
GENERAL METHOD.
637. Illusteative Example. Find the interest of 1840 for 4y. 3 mo. 5d. at 8%.
WRITTEN WORK. Explanation. — The interest of ,| 840 1 840 X 0.08 X... 4 = 1 268.80 ^°' ^ ^^ ^* ® ^" '' -^ ®^° ' "■°^- ^ u' interest tor 4 years is 4 tunes as much, 08 X 95 *"" * 268.80.
^ — ^ = 17.73 3 mo. 5 d. ecLual 95 days. The ^^ Ans. $286.53 interest of $840 for 1 year being $ 840 X 0.08, the interest for 1 day is ^^ of this (Art. 534, Note II.), and for 95 days it is 95 times as much, or $ 17.73, which, added to $268.80, makes $ 286.53, the entire interest.
538. From the example above may be derived the fol- lowing _ ° Rule.
1. To find the interest at any per cent for any number of years : Multiply the principal by the rate for 1 year, arid that product hy the number of years.
What to read after The Franklin Written Arithmetic : With Examples for Oral Practice?
You can find similar books in the "Read Also" column, or choose other free books by George a George Augustus Walton to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
j. Wliat is the amount of $ 200 for 3 years 3 months at 10 % ?
METHODS OF COMPUTING INTEREST. 211 METHODS OP COMPUTING INTEREST.
To THE Teacher. Two methods of computing interest are given m the following pages ; but the teacher is advised to have pupils use but one.
The method by aliquot parts will be found on page 308 of the Appendix.
GENERAL METHOD.
637. Illusteative Example. Find the interest of 1840 for 4y. 3 mo. 5d. at 8%.
WRITTEN WORK. Explanation. — The interest of ,| 840 1 840 X 0.08 X... 4 = 1 268.80 ^°' ^ ^^ ^* ® ^" '' -^ ®^° ' "■°^- ^ u' interest tor 4 years is 4 tunes as much, 08 X 95 *"" * 268.80.
^ — ^ = 17.73 3 mo. 5 d. ecLual 95 days. The ^^ Ans. $286.53 interest of $840 for 1 year being $ 840 X 0.08, the interest for 1 day is ^^ of this (Art. 534, Note II.), and for 95 days it is 95 times as much, or $ 17.73, which, added to $268.80, makes $ 286.53, the entire interest.
538. From the example above may be derived the fol- lowing _ ° Rule.
1. To find the interest at any per cent for any number of years : Multiply the principal by the rate for 1 year, arid that product hy the number of years.
What to read after The Franklin Written Arithmetic : With Examples for Oral Practice?
You can find similar books in the "Read Also" column, or choose other free books by George a George Augustus Walton to read onlineMoreLess
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