Prop. III.
An Estate being offered for a certain Sum of money, the annual Rent is also known: Q What
Socius mercatoris: or The merchant's companion: in three parts. The first, being a plain and easie introduction to arithmetick, vulgur and decimal, the extraction of the square and cube roots, with a table of 200 square roots, and their use in the resolution of square equations. The second, a treatise of simple and compound interest and rebate, with two tables for the calculation of the value of leases or annuities, payable quarterly, the one for simple, the other compound interest, at 6 per cent. per annum, with rules for making the like for any other rate. The third, a new and exact way of measuring solids in the form of a prismoid and cylindroid, with the frustums of pyramids and of a cone: whereunto is added, some practical rules and examples for cask-gauging. By John Mayne, philo-accomptant.
About this Item
- Title
- Socius mercatoris: or The merchant's companion: in three parts. The first, being a plain and easie introduction to arithmetick, vulgur and decimal, the extraction of the square and cube roots, with a table of 200 square roots, and their use in the resolution of square equations. The second, a treatise of simple and compound interest and rebate, with two tables for the calculation of the value of leases or annuities, payable quarterly, the one for simple, the other compound interest, at 6 per cent. per annum, with rules for making the like for any other rate. The third, a new and exact way of measuring solids in the form of a prismoid and cylindroid, with the frustums of pyramids and of a cone: whereunto is added, some practical rules and examples for cask-gauging. By John Mayne, philo-accomptant.
- Author
- Mayne, John, fl. 1673-1675.
- Publication
- London :: printed by W[illiam] G[odbid] for N. Crouch, in Exchange-Alley, over against the Royal-Exchange in Cornhill,
- 1674.
- Rights/Permissions
-
To the extent possible under law, the Text Creation Partnership has waived all copyright and related or neighboring rights to this keyboarded and encoded edition of the work described above, according to the terms of the CC0 1.0 Public Domain Dedication (http://creativecommons.org/publicdomain/zero/1.0/). This waiver does not extend to any page images or other supplementary files associated with this work, which may be protected by copyright or other license restrictions. Please go to http://www.textcreationpartnership.org/ for more information.
- Subject terms
- Interest -- Tables -- Early works to 1800.
- Interest rates -- Early works to 1800.
- Cite this Item
-
"Socius mercatoris: or The merchant's companion: in three parts. The first, being a plain and easie introduction to arithmetick, vulgur and decimal, the extraction of the square and cube roots, with a table of 200 square roots, and their use in the resolution of square equations. The second, a treatise of simple and compound interest and rebate, with two tables for the calculation of the value of leases or annuities, payable quarterly, the one for simple, the other compound interest, at 6 per cent. per annum, with rules for making the like for any other rate. The third, a new and exact way of measuring solids in the form of a prismoid and cylindroid, with the frustums of pyramids and of a cone: whereunto is added, some practical rules and examples for cask-gauging. By John Mayne, philo-accomptant." In the digital collection Early English Books Online. https://name.umdl.umich.edu/A50425.0001.001. University of Michigan Library Digital Collections. Accessed May 14, 2024.
Pages
Page 127
Rate of Interest upon Interest shall the Pur∣chaser have for his money?
Equation, V ÷ S = R − 1.
The annual Rent being divided by the Sum demanded, quotes the Rate less Unity.
Example.
Quest. 1. There is a Free-hold Estate to be sold for 1600 l. the yearly Rent being 128 l. what Rate of Interest shall the Purchaser have for his money?
〈 math 〉〈 math 〉
Quest. 2. Admit there be a small Farm to be sold of the Value of 35 l. per Annum for 500 l. what Rate of Compound Interest shall the Purchaser have for his money at that price?
〈 math 〉〈 math 〉
Page 128
Furthermore, if it be inquired how many years Purchase any Annuity is worth, putting R = the Ratio as before, and Y the number of Years, the Rule is: 〈 math 〉〈 math 〉
That is, Divide Unity by the Ratio less 1, and the Quote informs the Number of Years.
Example.
There is a Free-hold Estate to be sold, Q. How many Years Purchase is it worth at 5 per Cent. per Annum?
〈 math 〉〈 math 〉
The Answer is 20 Years Purchase.
What is it worth at 6 per Cent. p••r Annum?
〈 math 〉〈 math 〉
The Answer is 16 Years, and ⅔ of a Year.
Page 129
Again, if an Estate be offered at any num∣ber of Years Purchase, and it be demanded what Rate of Interest the Purchaser shall have for his Money, the Rule is: 〈 math 〉〈 math 〉
That is, Divide Unity by the number of Years propos'd, and the Quote exhibits the Ratio, less Unity.
Example.
An Estate is offered at 20 Years Purchase, what Rate of Interest shall the Purchaser then have?
〈 math 〉〈 math 〉
The Answer is 5 per Cent. per Annum.