"THE UPWARD SWING."
I£ the present "upward swing continues as revealed by the twelve millions of exports, there should be fewer instances of the kind related in this problem. - A debtor sought an extension or time, Mid the creditor who holds the bill falling due in six months, agrees to accept halt the amount at once "and the balance" in one year, and reckoning at tbe time when the bill would originally have fallen due the creditor finds that he is thus nine shillings bewer off. Assuming that the interest charged was at the Tate o£ 6 per cent, per annum, can the reader determine the amount of the bill? ■ Although obviously the interest on a given sum of money for six months would be the same as that on half the sum for twelve" months, it will be noted that the position here is not precisely the same. If it were tho problem would not be quite so intellect sharpening.
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https://paperspast.natlib.govt.nz/newspapers/EP19280714.2.125.2
Bibliographic details
Evening Post, Volume CVI, Issue 11, 14 July 1928, Page 20
Word Count
161"THE UPWARD SWING." Evening Post, Volume CVI, Issue 11, 14 July 1928, Page 20
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