Thomas Jefferson: Notes on Value of Lots in Beverley Town (Westham), [ca. 22 May 1817]
Notes on Value of Lots in Beverley Town (Westham)
[ca. 22 May 1817]
my lots in Beverly town Nos 57. 107. 108. 1511
1751. June 5. cost 86/ each
what worth at 6. p.c. compd int. 1817. June 3
formula l = arn − 1
Log. 1.06 = r | 0.0253059 |
Log. 1.06 × 65 (= n − 1) | 1.6448835 |
Log. 86. = a | 1.9344985 |
No 3796.5 s = Log. | 3.5793820 |
D.632.72 |
the same at 5. p.c. comp. int. | to 1797. May 1. |
and then at 6. p.c. | to 1817. May 1. |
Log. 1.05 = r | 0.0211893 | |
Log. 1.05 × 45 (= n − 1) | 0.9535185 | |
Log. 86 = a | 1.9344985 | |
No 772.71 s = | Log. | 2.8880170 |
D 128.80 |
2d opern from 1797. to 1817. 20.y. @ 6. p.c.
Log. 1.06 = r | 0.0253059 |
Log. 1.06 × 19 (n − 1) | 0.4808121 |
Log. 128.80 = a | 2.8880170 |
No 2337.9 = Log. | 3.3688291 |
Dol. 390. |
128.80 D + 390 D = 518. D 80 c for each lot
the lots generally are 2 ch–24 l = 215.84 f square
containing half an acre each.3
streets 3. po. wide = 49½ f
but No 151. the ferry lot is 431.68 f4 = 431 f–8 I extent on the river.
MS (DLC: TJ Papers, 232:41549); written entirely in TJ’s hand on one side of a narrow scrap; undated.
TJ presumably calculated these values for his lots in Beverley Town (Westham) after receipt on 22 May 1817 of David Higginbotham’s letter of 20 May 1817.
The maximum allowable interest rate in Virginia was increased from 5. p.c. to 6 percent in November 1796. The change took effect on 1 May 1797 ( [1796 sess.], 16–7).
1. Lot numbers added in a different ink from remainder of manuscript.
2. Reworked from “D.622.7.”
3. Preceding five words interlined.
4. Reworked from “331.68 f.”
Index Entries
- interest; rate limits in Va. search
- interest; TJ’s calculations of search
- Jefferson, Thomas; Business & Financial Affairs; sale of Westham lots proposed search
- Jefferson, Thomas; Writings; Notes on Value of Lots in Beverley Town (Westham) search
- mathematics; logarithms search
- Westham, Va.; TJ’s lots in search