( u.8 ) 
II. Of Simple-Intereft. 
The abfurdity of the Suppofition, on which the ufual 
Method of computing prefenc Values by Simple-Intereft, is 
founded, viz,. T hat the Rent or Annuity is conftantly recei- 
ved, and put out again at Intereft, as it becomes due; butthat 
the Intereft of the Purchafe Mony lies dead during the whole 
Term, is fo apparent, and the Errors arifing from it fo grofs, 
that the Writers who have laid down this Method, have at the 
fame time caution’d againft the Ufe of it for any more than 6 
or 7 Years, the Error for that time being not confiderable. 
The fame Suppofition does alfb occafion the mifeomputa- 
tionof Amounts, or rather the mifapplication of them to their 
proper Cafes. Wherefore, fince the Simple-Intereft of Mony 
is of equal Value pro rata , and of the fame regard with Rents 
or Annuitys, being each the Original Profits ifluing alike from 
a principal Stock, Eftate or Value, and equally improveable; 
This general Rule may ferve for a juft Correction of this 
Method, viz • That fuppofing in any Cafe an Intereft ought 
to be, or not to be allowed to either of thofe Profits, the fame 
be done in the like Cafe to the other. Thus, in the Cafe of 
Debts, or Amounts of Sums of Mony, Rents, or Annuitys for 
the time paft, its ufual in praeftife to allow no Intereft to ei- 
ther ; For though the Law, to curb the exorbitant Avarice of 
Ufurers.and for other Reafons.does more exprefly difallow Inte- 
reft upon Intereft for aDebt; our Courts both of Law andEquity, 
as 1 am inform’d, will be as far from allowing the Charge of In- 
tereft againft a Tenant for Rent in Arrear ; except on a nowine 
■pcenx (which is now become almoft obfolete)fothat in this Cafe 
(putting and r forthe Annuity and Rate yearly, Half-yearly, 
or otherwife) aspr n J rp.is the Amount of a Sum of Mony,. fo 
is a n the Amount of an Annuity or Rent in Arrear, and not 
— l r+i x a/zas Arithmeticians commonly make it. Butin 
the Computation of prefent.Values,or Amounts for the time to 
come, 
