Practical arithmetic, embracing the science of numbers and the art of computation; for schools and academics
(This historic book may have numerous typos and missing te...)
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1868 Excerpt: ...AT PAR, PREMIUM, OR, DISCOUNT. 299 Capital may consist of money, stocks, bonds, drafts, etc..900. State Stocks, or 'United States Stocks, are bonds of a State, or of the United States, payable at some future time with interest annually, or semi-annually. at a fixed rate %. 301. Drafts, Checks, or Sills of Exchange are written orders on some firm, or person for money (337 j. 302. The Par Value of stock, or capital ia its original cost; that is, its nominal value, or its face. 303. TJie Market Value, or Meal Value of capital is what it will sell for. Capital above par is said to be at Premium, and below par at Discount. 304. Premium, is the rate c/0 above par. SOS. Discount is the rate % below par. Market Value=Par Value + Premium, or P. V.--Discount. Par Value=Market Value--Premium, or M. V. + Discount. Premium=Market Value--Par Value. Discount=Par Value--Market Value. The problems are the same as those of percentage. PROBLEM 1.--Given the par value and. rate per cent, of premium, or discount, to find the premium, or discount, 1. What is the premium on $8740 par value of bank stock, at 15$ advance? Ans. $1311. Rule.--See Problem 1, 252, Rule. 2. What is the value of 25 shares of Delaware and Hudson Canal Co. stock, at 12% advance, the original shares being $100 each? Ans. $2812.50. 3. Bought $25000 worth of stock at % above par, and sold it the same day at % above par; how much did X make? Ans. $62.50. 4. What will be the cost of 15 shares of bank stock, at 15£$ below par, shares $150 each? Ans. $1895.625. 5. Bought 3325 shares of Empire City Oil Co. stock, at 1% below par, and sold it at 23% above par; how much did I gain, original shares $10 each? Ans. $10141.25. 6. A sold $460 uncurrent money, at % discount; required the discount and the market value...
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