INTEREST. 
nu ity of 50 guineas per annum, is willing lowed an equivalent annuity. What must 
that the same shall not commence till after this annuity be ? 
the expiration of 6 years on being then al- 52.5 X 1.340095 a= 701. 7s. Id. 
TABLE II. 
Shewing the present- Value of ll. to be received at the end of any Number of Years 
not exceeding a Hundred, discounting at the rate of 5 per Cent. Compound Interest. 
I Years. 
Value. 
Years. 
Value. 
Years. 
Value. 
Years. 
Value. 
i 
.952381 
26 
.281241 
51 
.083051 
76 
.024525 
2 
.907029 
27 
.267848 
52 
.079096; 
77 
.023357 
3 
.863868 
28 
.255094 
53 
.075330 
78 
.022245 
4 
.822702 
29 
.242946 
54 
.071743 
79 
.021186 
5 
.783526 
30 
.231377 
55 
.068326 
80 
.020177 
6 
.746215 
31 
.220369 
56 
.065073 
81 
.019216 
7 
.710681 
32 
.209866 
57 
.061974 
82 
.018301 
8 
.676839 
33 
.1 99873 
58 
.059023 
83 
.017430 
9 
.644609 
34 
.190355 
59 
.056212 
84 
.016600 
10 
.613913 
35 
.181290 
60 
.053536 
85 
.015809 
11 
.584679 
36 
.172657 
61 
.050986 
86 
.015056 
12 
.556837 
37 
.164436 
62 
.048558 
87 
.014339 
13 
.530321 
38 
.156605 
63 
.046246 
88 
.013657 
14 
.505068 
39 
.149148 
64 
.044044 
39 
.013006 
15 
.481017 
40 
.142046 
65 
.041946 
90 
.012387 
16 
.458112 
41 
.135282 
66 
.039949 
91 
.011797 
17 
.436297 
42 
.128840 
67 
.038047 
92 
.011235 
18 
.415521 
43 
.122704 
68 
.036235 
93 
.010700 
19 
.395734 
44 
.116861 
69 
.034509 
94 
.010191 
20 
.376889 
45 
.111297 
70 
.032866 
95 
.009705 
21 
.358942 
46 
.105997 
71 
.031301 
96 
.009243 
22 
.341850 
47 
.100949 
72 
.029811 
97 
.003803 
I 23 
.325571 
48 
.096142 
73 
.028391 
98 
.008384 
24 
.310068 
49 
.091564 
74 
.027039 
99 
.007985 
25 
.295303 
50 
.087204 
75 
.025752 
100 
.007604 
Ex. 1. A person is entitled to receive 
10001. at the end of seven years from the 
present time ; what sum paid him imme- 
diately would be equivalent thereto ? 
1000 X .710.681 = 7101. 13s. 7\d. 
Ex. 2. What is the present worth of 
2221. 10s. payable 15 years hence? 
222.5 X .481017 = 107 1. Os. 6\d. 
• Ex. 3. What is the present value of 
13921. 19s. 7d. to be received at the expira- 
tion of 21 years ? 
1392.98 X .358942 = 5001. 
Tables shewing the present value or 
amount of annual payments at compound 
interest are given under the articles An- 
nuities and Leases. 
It is not legal to lend money at compound 
interest bpt in granting or purchasing an- 
nuities either for lives or for terms of years, 
it is always usual to compute their value at 
compound interest ; this is particularly the 
case with respect to sums of money which 
are not receivable till some future period. 
See Reversions. 
Interest, in law, is usually taken for a 
term, or chattel real, and more particularly 
for a future term. 
Interest of money, is the premium paid 
for the use of a sum, and is by law, in this 
country, limited strictly to five per cent, 
per annum. See Usury. 
Where an estate is devised for payment 
of debts, chancery will not allow interest 
for book debts. In case of a vested legacy, 
due immediately, and charged on land, or 
money in the funds, which yield an imme- 
diate profit, interest shall be payable there- 
on from testator’s death ; but if charged 
only on the personal estate, which cannot 
be immediately got in, it shall carry interest 
only from the end of the year after the 
death of the testator. Where lands are 
charged with payment of a sum in gross, 
