Federal Money. BEING A SKETCH OF THE Money of Account OF UNITED AMERICA.
BY ELIPHALET NOTT, A. M. Principal of Cherry-Valley Academy. FIRST EDITION. FOR THE USE OF SCHOOLS.
COOPERSTOWN: PRINTED BY ELIHU PHNNEY, FOR THE AUTHOR. M,DCC,XCVII.
MULTIPLICATION. Examples.
Bought 55 bushels of Corn at 1 D. 1 (D.) dimes 1 (C.) cents 1 (M.) mills per bushel.
How much come it to?
Bought 70 Horses, at 90 D. 9 (D.) dimes 9 (C.) cents per house
How much come they to?
Observe in example 1st, there are three figures at the right hand of the dot in the question, so in the answer three figures must be dotted off.
In example 2d, There are only two figures at the right hand of the dot in the question conseqently, two figures only, are to be dotted off in the answer.
REDUCTION at Federal MONEY.
RULE.
To add one cypher, will reduce any sum to the next lower denomination:—
To point off one at the right hand, will raise it to the next higher denomination.
EXAMPLES.
| Add one cypher | 9990 (D.) dimes reduces it to dimes. |
| Add two | 99900 reduces it to cents. |
| Add three | 999000 reduces it to cents. |
| Point off 1 fig. | 99900.0 it reads cents. | Point off 2 | 9990.00 it reads dimes | Point off 3 | 999.000 it reads dollars. |
DIVISION.
RULE. The figures at the right hand of the dot in the divisor and quotient counted together, must be equal to those pointed off in the dividend. When there are no figures pointed off in the divisor, then you must point off as many figures in the answer, as there are pointed off in the dividend.
If 122 Oranges cost 109 D. 8 (D.) dimes 0 (C.) cents 0 (M.) mills what were they a piece.
As there were no figures pointed off in the Divisor of the above sums, so many figures were to be pointed off, in the answer, as there were pointed off in the Dividend.
SIMPLE INTEREST of Federal MONEY.
| Rate per ct. | Ratios. |
| 1 | .01 |
| 2 | .02 |
| 3 | .03 |
| 4 | .04 |
| 5 | .05 |
| 6 | .06 |
| 7 | .07 |
| 8 | .08 |
| 9 | .09 |
| 10 | .1 |
The principal, time and ratio given to find the interest & amount.
RULE.
Multiply the principal, time and ratio together, and the last product will be the interest; to which add the principal, and the sum will be the amount.
Required the amount of D. 537. (D.) dimes 1 (C.) cents 6 for 5 years, at 7 per cent, per annum?
[Page]Note. That in every Multiplication, you must point off as many figures, to the right hand, as there are figures at the right hand of the dot, in the multiplier, and multiplicand both; in the above sum, in the first multiplication, there were .16 & 07 which counted together, make four, therefore four figures are to be pointed off.
In the second Multiplication, there were four at the right hand of the [...] in the multiplicand; but none in the multiplier, therefore four only, are to be pointed off in the answer.
Required the interest of 700 D. 7. (D.) dimes 7 (C.) cents 7 (M.) mills for 2 years, at 7 per cent per annum.
To change CENTS into PENCE.
RULE Multiply the given pence by 100, and divide them by 96, if the pence be York currency▪ if Lawful, then multiply by 100 and divide by 72
How many cents are there in 24 pence York.