Archive image from page 343 of The cyclopaedia; or, Universal dictionary. The cyclopaedia; or, Universal dictionary of arts, sciences, and literature cyclopaediaorun02rees Year: 1819 ANNUITIES. Example I. I,et the ntf of intercft be 4 fa- ctnt. and llie term five years; and coiifciiuently r = .04, n = 5, T = 5, then Exatr:pc II. Let the rate oP intcrell be the fame, and the term for wliich the annuity is payable 25 years. Then, .V â 15-6: h = .7118 m = Example III. Interell being the , let the term be jo years. â Then, V = h = q = 2i.;;82c m = 2 Exampl
Archive image from page 343 of The cyclopaedia; or, Universal dictionary. The cyclopaedia; or, Universal dictionary of arts, sciences, and literature cyclopaediaorun02rees Year: 1819 ANNUITIES. Example I. I,et the ntf of intercft be 4 fa- ctnt. and llie term five years; and coiifciiuently r = .04, n = 5, T = 5, then Exatr:pc II. Let the rate oP intcrell be the fame, and the term for wliich the annuity is payable 25 years. Then, .V â 15-6: h = .7118 m = Example III. Interell being the , let the term be jo years. â Then, V = h = q = 2i.;;82c m = 2 Example IV. .Intcieft being the fame, let the term be 100 years. Then, y = h= 7 = 24-532 m = Sums may alfo be made payable at longer intervals than a year: fiich are fines required at iVated times for the re- newal of leafes. Suppofing thofe periods to be at the end of every «'' year, the feries cxprefrmg the 'â ' '' + -=,2« + '==)'iy-''' hfmitum 14-rr l~-'-r' i+rV-' i+r\ that is, divide i/. by the amount of l/. in n years (fee Tab. I.) leffened by unity, multiply the quotient by the fine, and the produft will be the prefent value of all thofe fines for ever, if the frji of them be payable at the end of H years. But if the fine be now due, unity muft be added to the above-mentioned quotient, and the fum being muiti- phed by fuch fine, the produft will be the value in this cafe. Example. Suppofing an ellate of tol. per annum held by leafe, renewable every feven years at a certain fine of 20/. ; â what is the value of fuch tllate, computing at ftvspercent. ? Anf. The amount of l/. in feven years, by Tab. I. is Dedufting unity from this number, and divid- ing i/. by .62889;, the remainder, we have for the quotient, which, being nniltiplied into 20/. the given fine, produces for the prefent value of all fuch fines, fup- â¢pofing the firft of them to be paid at the end of feven years. Jow fmce the fee fimple is worth 20 years purchaf
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