Sinopsis
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1879 Excerpt: ...to double itself in 7 years the rate per cent must be as many times 1 % as 7 is contained times in 100, which is 14f. Hence, etc. 10. At what rate per cent per annum will any sum double itself in 4, 8, 9, 12, and 25 years respectively? 11. At what rate per cent per annum will any sum triple or quadruple itself in 6, 9,14, and 18 years respectively? 12. Invested $3648 in a business that yields $1659.84 in 5 years. What per cent annual interest did I receive on my investment?. 595. Peob. VIII.--To find the time when the principal, interest, and rate are given. Observe, that tlie interest is found (58O) by multiplying the interest of the given principal for 1 year at the given rate by the time expressed in years; hence the following 596. Rule.--/. Divide the given interest by the interest of the given principal for 1 year at the given rate. II. Reduce (579), when called for, fractions of a year to months and days, EXAMPLES FOR PRACTICE. 597. 1. In what time will $350 gain $63 at 8#? Solution.--The interest of $350 for 1 yr. at 8% is $28. Now since $28 is the interest of $350 at 8 for 1 year, it will take as many years to gain $63 as $28 is contained times in $63; hence $63--h $28 = 13) yr., or 2 yr. 3 mo., the required time. In what time will 2. $80 gain $36 at 7£$? 5. $477 gain $152.64 at 3. $460 gain $80.50 at 5%? 6. $690 gain $301.392 at 4. $260 gain $98.80 at 8%? 7. $385 gain $214.72 at 8. My total gain on an investment of $860 at 1% per annum, is $455.70. How long has the investment been made? 9. How long will it take any sum of money to double itself at 1% per annum? Solution.--At 100 % any sum will double itself in 1 year; hence to double itself at 1% it will require as many years as 1% is contained times in 100, which is 14f. Hence, etc. Observe, ...
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Reseña del editor
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1879 Excerpt: ...to double itself in 7 years the rate per cent must be as many times 1 % as 7 is contained times in 100, which is 14f. Hence, etc. 10. At what rate per cent per annum will any sum double itself in 4, 8, 9, 12, and 25 years respectively? 11. At what rate per cent per annum will any sum triple or quadruple itself in 6, 9,14, and 18 years respectively? 12. Invested $3648 in a business that yields $1659.84 in 5 years. What per cent annual interest did I receive on my investment?. 595. Peob. VIII.--To find the time when the principal, interest, and rate are given. Observe, that tlie interest is found (58O) by multiplying the interest of the given principal for 1 year at the given rate by the time expressed in years; hence the following 596. Rule.--/. Divide the given interest by the interest of the given principal for 1 year at the given rate. II. Reduce (579), when called for, fractions of a year to months and days, EXAMPLES FOR PRACTICE. 597. 1. In what time will $350 gain $63 at 8#? Solution.--The interest of $350 for 1 yr. at 8% is $28. Now since $28 is the interest of $350 at 8 for 1 year, it will take as many years to gain $63 as $28 is contained times in $63; hence $63--h $28 = 13) yr., or 2 yr. 3 mo., the required time. In what time will 2. $80 gain $36 at 7£$? 5. $477 gain $152.64 at 3. $460 gain $80.50 at 5%? 6. $690 gain $301.392 at 4. $260 gain $98.80 at 8%? 7. $385 gain $214.72 at 8. My total gain on an investment of $860 at 1% per annum, is $455.70. How long has the investment been made? 9. How long will it take any sum of money to double itself at 1% per annum? Solution.--At 100 % any sum will double itself in 1 year; hence to double itself at 1% it will require as many years as 1% is contained times in 100, which is 14f. Hence, etc. Observe, ...
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