ANNUITIES. 217 



" 2. Find the present worth of the last present worth, 

 discounting for the time between the purchase and com* 

 mencement of the annuity, and it will be the answer re- 

 quired. 



EXAMPLES. 



1. The reversion of a freehold estate of 79I. 4s. per an- 

 num, to commence 7 years hence, is to be sold •, what is 

 k worth in ready money, allowing tho purchaser 4- per 

 cetit. for his money ? 



4*5 : 100 : : 79*2 



100 



4''5)792o*o(i)6o= present worth, 

 45 if entered on im- 



• — - mediately. 



315 



270 



^270 



and i*o45'i == 1*360862)1 760*000(1 293*297 = 1293I. 5s. 

 ii-^d. = present worth of 1760I. for 7 years, or the whole 

 present worth required. 



2. Which is most advantageous, a term of 15 years in 

 an estate of lool. per annum, or the reversion of such au 

 estate forever, after the expiration of the said 15 years, 



computing 



Dr. Price's Treatise upon Annuities and Reversionary Pay- 

 ments is an excellent porformance, and will be found a very val- 

 uable acquisition to those, whose inclinations lead them tq studies 

 of this nature. 



