Teaching Arithmetic a Handbook for Teachers And a Textbook for Normal And Train
Teaching Arithmetic a Handbook for Teachers And a Textbook for Normal And Train
M a Middlesex Alfred Bailey
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2 /"f&nvy "What is the date of maturity? Oct. 1. What is the period for which $1100 is to bear interest? Your answer, 3 mos. , is contrary to business usage. The interest period is the actual no. Of days from the date of the note, July 1, to its maturity, Oct. 1, or 92 days. See 164. "If 'with interest' had been written instead of 'with interest at 4% ' what would have been the rate? The legal rate of the state of New York, or 6%. " 154 LESSON 29. INTEREST 207 207. Interest Computed. The cancel...lation method is a favorite with teachers because it is easily taught. It should be made the basis because it leads at once to valu- able modifications. Cancellation Method. No rule is necessary. The pupil finds the simple problems and their answers. See 39. ILL. T. "Look at Note No. 2. We must find the interest of $1100 for 92 days at 4%. Before solving this problem we will solve a few others. "Find the interest of $204 for 1 yr. 5 mo. 17 da. At 7%. There are many ways of proceeding. We will find the interest for 1 da.
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