OCR Text |
Show A Lesson for the Timkh. Few pertons properly estimate the dif lerenco between ft higli and low ratt of interest, and therefore oflor. borrow money at ruinous rates that no legitimate business can stand. But fow-have figured on the difference between 6 awl 8 per cent. One dollar loaned for 100 yoars at fj .percent,, with the interest collected annually aud added to the nrinr.innl , will amount to $340. At S per cent. 1 it amounts to $2,203, or nearly seven times as much. At 3 per cent., the usual rate or interest in England, it amounts to $19.25, whereas at 10 per cent., the usual rate in the United StateB, it is $13,800, or nearly one thousand times as much. At 12 per cent, it amounts to $S4,075, or more than four thousand thou-sand times aa much. At 18 per cent, amounts to $15,145,007, and at 24 per cent, (which we sometimes hear talked of) it reaches the enormous enor-mous sum of $2,551,799,404, or more than the state of Ohio is worth. |