Prop. III.
A Sum presently due = p, having been forborn •• time unknown = t, did amount to a cer∣tain Sum = A, at a Rate of Interest = G, per Cent. per Annum. Q. the Time of for∣bearance = t?
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A Sum presently due = p, having been forborn •• time unknown = t, did amount to a cer∣tain Sum = A, at a Rate of Interest = G, per Cent. per Annum. Q. the Time of for∣bearance = t?
Equation, 〈 math 〉〈 math 〉
That is to say, the Amount less the Principal, so increased, multiplied by 100, and that Product divided by the Fact of the before-mentioned Principal, and Rate of Interest, quotes the Time of forbearance.
Example.
Quest. 1. If 175 l. hath been forborn till with the Interest at 6 per Cent. per Annum it is increased to be 248 l. 10 s. Q. How long hath it been forborn?
〈 math 〉〈 math 〉
The Answer is 7 years.
Quest. 2. If 25 l. hath been forborn till it is amounted to 27 l. 5 s. at 6 per Cent. per Annum, Simple Interest. Q. In what time is it so increased?
〈 math 〉〈 math 〉
〈 math 〉〈 math 〉
The Answer 1 year and an half.