The purchasers pattern In two parts, containing. I. The true value of any purchase of land or houses by lease or otherwise: also, a moderate discourse of usury. With many observations, and tables of intrest and rebatement. II. The true measuring of land, board, timber, and gauging of cask: and discovering the false rules and deceits which are used by many therein. With many other rules and tables of daily use for most men. The second edition corrected and enlarged. By Hen. Philippes.

IV. To know what is the true use of any summe of money for any number of dayes, after the rate of six per Centum.

Having found out the true number of dayes, as is before shewed; finde out this number of dayes in the Table, and there you shall finde in a decimall Fraction the true Interest of one pound for the said time: So that the proporti∣on will be thus,

• As 1li. or 1.0000,000,
• ...To the number in the Tables;
• ...So any number of pounds inquired,
• ...To the like number required.

Take this number therefore, and mul∣tiply it by your principall summe, and then cutting off the seven last figures toward your right hand, the remainer

will shew you the pounds which it comes to, and the figures cut off, they are a fraction of a pound. But now in the valuation whereof, you need make use but of the first four figures, reckoning the first figure doubled, and it will shew the shillings; if the second figure be more then five, take five out of it and reckon one shilling more for it; lastly, the re∣mainer of that above five, and the next following figure, will shew the farthings very neer, if you abate but one in 25. Or you may find the true value of these first four figures in the decimall table page 33.

For example.

What is the Interest of 555 pounds, for about half a year, or 183 dayes?

The number against 182 dayes is

		.0299.178
This multiplied by 555		555
		1495890
	1	495890
	14	95890
Yields	16	6043,790

Which, acording to the former rules and Tables, comes to 16 pound 12 shil∣ings 1 peny, and a little more, viz. scarce two tenth parts of a farthing.

And thus you may do for any other number of even pounds: and if you think this too much labour, then if your prin∣cipall money be not very much, you need take out but the first 4 figures of the Tables to be multiplied (which are therefore separated from the rest by the [.]) and then you must cut off but 4 fi∣gures from the product, and those will exactly agree with the decimall Table.

Thus, the 4 first figures of the former

number		,0299
Multiplied by		555
		1495
	1	495
	14	95
Yields	16	5945

Which is 16 li. 12 shil. very neer.

But if you will be more exact and know also the interest of shillings and pence, if there be any shillings and pence belonging to your principall summe; you must first reduce them into one decimall fraction, by the Table, and then take the 4 first figures of this number in the Table, and multiply them together. And observe how many figures you multiply by, and cut off so many figures from the end of the product, the rest of the figures; if they be three, put one cipher before them; if they be two, put two cyphers before them, to make them agree to the 4 places in the Table and seek•• that s••m in the decimall Table, which will shew the true value thereof. Note, that it can∣not

exceed 0600, which is 1 shilling 2 p••nce 40 hundred parts.

Thus for example, if your principall summe were 555 pound, 11 shillings, the Interest of the 11 shillings must thus be found;

The Interest for 182 dayes is	,0299
11 shil. reduced into decimals is	55
	1495
	1495
	,0164	45

By cutting off the two last figures, and adding one cypher to the beginning to make the three figures to four places; the sum is 0164, which in the decimall Table shewes 4 pence very neer.

Or yet more exactly, if you adde this to your former product of the 555 li.

li.
16,6043790
,016445
16,6208	240

So the whole Interest appears to be 16 pound, 12 shillings, 5 pence.

But, me thinks, I hear some taxing of me for being so scrupelous in account∣ing the Interest of money by dayes, and not rather teach some way, how a just abatement should be made for those payments which are made before the year is fully out. For the Act allowes to take 6 pound in the hundred for the whole yeare; now if a man takes 3 pound per Centum for the half year; the said 3 pound in the other half year will yield, at the same rate, 1 shilling, 9 pence, 2 farthings; and thus, some think, a man takes more then the Act allowes, and comes within the danger thereof.

But the Law herein looks upon the

year as the fittest measure of time to proportion the Interest by; and the in∣tent of the law is to restrain the grosser abuses of Extortioners, and not to take notice of such niceties a•• this; which would have made it either very large and tedious, by appointing exact Tables for it, moneth by moneth, nay day by day; or else intricate, and full of snares for men to fall into. The plain meaning of the law is this; that, as a year should measure the time, so the said 6 pound should proportion the In∣terest; the parts of the one answering to the parts of the other; neither al∣lowing any Interest upon the Interest, for the time under or over a year, nor tying any man to let or take up money for the whole year.

And the usuall custome therefore in this case is a good Comment upon this Law; by which most Bonds of this nature are made to be paid at six moneths end, and yet the full half of the whole years Interest allowed; which would never have been so long and frequently done, if it had been

thought any breach of the Statute.

And therefore, though there might be an allowance made by way of re∣batement, and the cause may seem somewhat like, yet it is not the same; neither doth the strictest rebatement used among Merchants, take any notice thereof, but is grounded upon another cause, as you may see more in the next particulars.