Note: this document has content that may require expanded/print view for best results (icons above right)

# Enclosure: [From Gouverneur Morris], [6 April 1792]

# [Enclosure]3

Qu: 1. | In what Time will an Annuity of 8 pay 100. Int: at 6 p %. |

Ansr. 23.7913 Years or 23 Years 288 Days. | |

Qu: 2. | What is the present Value of an Annuity of 8 for 23.7913 Years Int: at 4 p %. |

Ansr. 121.3342 | |

Qu: 3. | What principal Sum will in ten Years amount to 121.3342 Int: at 4 p %. |

Ansr. 81.96914 | |

Qu: 4. | In What Time will a quarterly Payment of 2 pay 100. Int: at 1¼ p % quarterly. |

Ansr: 23.277875 Years or 23 Years 101 Days | |

Qu: 5. | What is the present Value of a quarterly Payment of 2 for 23.277875 Years Quarterly Interest at 1 p % |

Ansr: 150. | |

Qu: 6. | What principal Sum will in ten Years amount to 150 Int: at 4 p % |

Ansr. 101.3347. | |

Qu: 7. | What is the Rate of Interest paid by the Borrowers when a Commission of 4 p % is allowed on a Loan for 20 Years bearing 4 p % Interest. |

Ansr. 4.2943274 |

Value of the deferred Debt by Qu: & Ansr. No. 3.

viz

The gain is then at least one eighth of the Money applied to this Operation.

3. AD, Hamilton Papers, Library of Congress.