Elements of Algebra

CHAP. XIII. OF ALGEBRA. 185 and the value of the second term, which it is required to subtract, is easily calculated by logarithms. QUESTIONS FOR PRACTICE. 1. What will $375l. 10s.$ amount to in $9$ years at $6$ per cent. compound interest? *Ans. $634l. 8s.$* 2. What is the interest of $1l.$ for one day, at the rate of $5$ per cent.? *Ans. $0.0001369863$ parts of a pound.* 3. What will $365l.$ amount to in $875$ days, at the rate of $4$ per cent.? *Ans. $400l.$* 4. What will $256l. 10s.$ amount to in seven $7$ years, at the rate of $6$ per cent. compound interest? *Ans. $385l. 13s. 7\frac{1}{2}d.$* 5. What will $563l.$ amount to in $7$ years and $99$ days, at the rate of $6$ per cent. compound interest? *Ans. $860l.$* 6. What is the amount of $400l.$ at the end of $3\frac{1}{2}$ years, at $6$ per cent. compound interest? *Ans. $490l. 11s. 7\frac{1}{2}d.$* 7. What will $320l. 10s.$ amount to in four years, at $5$ per cent. compound interest? *Ans. $389l. 11s. 4\frac{1}{2}d.$* 8. What will $650l.$ amount to in $5$ years, at $5$ per cent. compound interest? *Ans. $829l. 11s. 7\frac{1}{2}d.$* 9. What will $550l. 10s.$ amount to in $3$ years and $6$ months, at $6$ per cent. compound interest? *Ans. $675l. 6s. 5d.$* 10. What will $15l. 10s.$ amount to in $9$ years, at $3\frac{1}{2}$ per cent. compound interest? *Ans. $21l. 2s. 4\frac{1}{2}d.$* 11. What is the amount of $550l.$ at $4$ per cent. in seven months? *Ans. $562l. 16s. 8d.$* 12. What is the amount of $100l.$ at $7.37$ per cent. in nine years and nine months? *Ans. $200l.$* 13. If a principal $x$ be put out at compound interest for $x$ years, at $x$ per cent. required the time in which it will gain $x$. *Ans. $8.49824$ years.* 14. What sum, in ready money, is equivalent to $600l.$ due nine months hence, reckoning the interest at $5$ per cent.? *Ans. $578l. 6s. 3\frac{3}{4}d.$* 15. What sum, in ready money, is equivalent to an annuity of $70l.$ to commence $6$ years hence, and then to continue for $21$ years at $5$ per cent.? *Ans. $669l. 14s. 0\frac{1}{4}d.$* 16. A man puts out a sum of money, at $6$ per cent., to continue $40$ years; and then both principal and interest are to sink. What is that per cent. to continue for ever? *Ans. $52$ per cent.*