Anonymous

“ Interest is the sum charged for the use of money. It is really the use of money or the benefit derived from its use. The principal is the sum for the use of which interest is paid. The rate of interest is the per cent. of the principal charged for its use for one year. Simple interest is the interest on the principal only, for the full time; compound interest is interest on the principal for the full time, and interest on each interest payment after it becomes due. ”

“ Both maker and payee are then responsible to the bank for its payment. If the note is drawing interest the discount is reckoned on and deducted from the amount due at maturity. Most notes discounted at banks do not draw interest. The time in bank discount is always the number of days from the date of discounting to the date of maturity. ”

“ To multiply by 12 1/2, add two ciphers, and divide by 8.
To find the value of any number of articles at 75 cents each, deduct one-quarter of the number from itself and call the remainder dollars.
To Subtract Any Number Consisting of Two Figures from 100.
Take the first figure from 9, and the second from 10. For example: in subtracting 73 from [6] 100, or in taking 73 cents change out of a dollar, say 7 from 9 and 2, and 3 from 10 and 7, or 27 cents. Practice this rule. It is simple, and will be found particularly helpful in making change. ”