1 8 FOREST VALUATION 



a (iop nt j^ Rnd value or sum of a series of payments a 



6. n = S = ( ' t _ ' coming every t years continued for n pay- 

 ments compounded at p per cent. 



Present value of a series of payments a com- 



- P _ a(i.op p i) ing every t years continued for n payments 



(i.pp* i) i.op ut compounded at p per cent, discounted at same 



per cent, the first payment to come in t years. 



The same as No. 7 but with the first payment 



g a ^ I -P" *) i-Qp t ~ x coming in x years so that the sum must be 

 (i.op* i) iop rt prolonged for t x years. Where x is greater 

 than t this becomes a discount. 



Income value of a property producing a net 



income a every year computed by capitalizing 



a the income a at p per cent; or the present 



9. Co value of a series of payments a coming every 



year continued forever compounded and dis-. 

 counted at p per cent, the first payment to 

 come in one year from now. 



Present value of a series of payments A com- 

 ing every t years continuing forever com- 

 ^ pounded and discounted at p per cent, the 



10. Co -, ' t first payment to come in t years from now. 



This is also the income value of a property 

 furnishing a net income A every t years com- 

 puted at p per cent. 



jj Co = I -P " x Same as No. 10 but with the first payment 



(i.op* i) coming in x years from now. 



Changing a periodic rental A coming every 



A (o.op) t years into a yearly rental a where the value 



i. op 1 i of the property is computed by capitalizing the 



income at p per cent. 



