1 8 FOREST VALUATION 



a(iOD°' i) ^""^ value or sum of a series of payments a 



6. Cn =: S := — - — — -; Coming every t years continued for n pay- 



(.i.op i; rnents compounded at p per cent. 



7. C = 



S. C» .— 



Present value of a series of payments a com- 



a(i.op" — i) ing every t years continued for n payments 



(i.op' — i) i.op"' 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 

 ad.np"' — l) l-op''" coming in x years so that the sum must be 

 (l.op' — i) lop"'"^ 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 

 the income a at p per cent; or the present 



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



•'-'•°P 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- 

 A pounded and discounted at p per cent, the 



10. Co = -; : first payment to come in t years from now. 



(i.op I) ipj^jj jj ^igQ ji^g income value of a property 



furnishing a net income A every t years com- 

 puted at p per cent. 



II. Co = 



■"■ ^OP "" Same as No. 10 but with the first payment 



(l.op' — l) coming in x years from now. 



Changing a periodic rental A coming every 

 A (cop) t years into a yearly rental a where the value 



l.op' — I of the property is computed by capitalizing the 



income at p per cent. 



