US927693A - Interest and time calculating sheet. - Google Patents

Description

BiEOIMENEL APPLICATION FILED AUG. 5, 1908.

Patented July 13, 1909.

2 SHEETS-11331 1.

TO FIND THE NUMBER OF DAYS BETWEEN ANY TWO GIVEN DATES IN THE SAME YEAR: Toke Hlediffevence ne-nueen +he accom oymg index numbers.

If +he given dams ave 1n differenf buf ConSBCuffve yeaYs, flake, +hed1ffl1rindex numbers 0110! subrracf H115 YesuH' from ence behueanrha accompunymg 365. I11 leap ear, 1? H12 period mvolvcs February 29111, add one day +orhe YCSUH in each case.

TU FIND THE DATE OF MATURITY IN THE SAME YEAR Add 1'0 H'le Index vlumbeY F 1hr: given da-ie +112 number ofdays rerun. The, "resuH will be+he mclcx of Hm requ weci (10175. I

If The Yequived dn-la 1's in fhe followmg year: Add *0 H11; molex number of '11: g'wen dafe fhe number of days 1'0 run and subh'ucr 365 From +1115 result In leap year 1f H16 perlod mvolves February 9141. Subfram" one 111 each case,

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UNTTED PATENT @FEJLQE.

WALTER SPARKLIN, OF PETERSBURG, VIRGINIA.

IN TE'RESTAND TIME CALCULATING SHEET.

Specification of Letters Patent.

Patented July 13, 1909.

To atiwhom it may concern:

lie it known that L-Vhuxrnn Smmnan, a citizen of the United States, residing at letersburg, in thecounty of Dinwiddie and State of Virginia, have invented new and useful lmprt'ivements in Interest and Time Calculating Sheets, of which the following is a specification. 7

This invention pertains to interest calculating sheets and has for its purpose the provision of such a table whereby interest may be readily computed upon a given amount for a given period.

The further object of the invent-ion is to so arrange the indicia that a complete calculation may be made While the sheet is held ctnivenieutly in view; and to accomplish this result without the use of mechani fill means. such as slide rules, pointers, etc... that are usually employed on de\ices for this purpose.

Other advantages attending the use of my interest calculator are that it otters the shortest, simplest, most accurate and practical method of computing interest. it especially adapted for use in connection. with the adjustable coupon certificate ot deposit, a modern banking device for time deposits, the use of which increases deposits by otter mg large inducements to depositors, makes more business with less labor and cost, simplifies the bookkeeping and reduces it to the minimum, thereby practically eliminat lug-errors and dishonesty among employees. and makes hanking-by-mail easy. I li'ith these and subordinate advantages hereinafter explained my invention embodies the arrangement and disposition of dat: shownon the .wconipanying sheet, the details of which ..e pointed out in the follow mg spec.ific:-1tion and set forth in the claims. in the fac-simile submitted, Figures '1. and 2, designate the sheet in its entirety, disclosing the system.

Since the data shown on Fig. 2 is merely e calendar continuation and computations ereifor of that shown'on Fig. 1, it. will be. necessary to describe in detail only Fig. 1. In this view A refers to the table having four decimal sect-ions or colmnns headed Thousands Hundreds, Tens, and Units, running from left to right and indicat ed by B, (j l), and 1*], respectively. In the left hand or thousands stx'ftion are ten (10) vertical sub-columns F, intersected by horizontal columns 1* providing blocks, in which are inserted. in black figures as at. a, various numbers, indicating the amount of interest for various numbers of days, and at the heads of these columns and above each of the black numbers referred to, are the primary digits in red 6, denoting the number of thousands; i. e. in the first or left hand column, over each number in black, is the number 10 in red, indicating that the numbers in black show the interest on $10000 for the various numbers of days consecutively. In the sec. ond suh-column of the section B, over each number in black, is the figure 9 in red, indicating that the numbers in black give the interest on $0,000 for the respective number of days. i In like manner, each subcolumn in this section, represents the interest ontho number of thousands, shown by the red figures in that column. The second, or hundreds section C, has nine sub-columns, similarly arranged, and indicatingthe interest on hundreds from nine to one re spectively. The-third or tens section D, bears a like relation to the interest on tons of dollars, and similarly, the last or units section, shows the interest on dollars. Between these several sections B, C, D, and E, and to the left of the. thousands section 13, are columns G having figures 0 in black but: of larger size than those heretofore mentioned, which figures indicate the number of days,on the face of the card A (Fig. 1) from '1 to (30, and on the back of the card (Fig. 2) from 61 to 123, thus making calculation available by this method, for a period of any four months. The method of ascertaining the interest by the use of this card is shown in the following illustrationz- Required-the interest 011 $7,984 for 51 days, 0%.

In the days column, near the left, find 51. Follow the line of this number continuously to the right.

Under 7000 you will find $59.

By simple addition you find that the interest on $7984. for 51 days is $67.80.

A separate card is provided for each rate of interest and by the use of the proper card, according to the required rate, the interest. of any amount up to $10,000, and for any time up to 123 days, can be formed almost instantly. This interest computing card is primarily intended fr use in connection with the adjustable coupon certificate of deposit; system wherein for instance there are three interest dates in the year, namely May lst, September 1st, andlJan. 1st, but it may just as readily be adapted to a four per cent. rate of interest with the interest dates on Jan. lst, .tpril 1st, July 1st, and Oct. 1st. For the purpose of determining the number oi days for which the interest is desired, there is arranged on the left hand margin of the table A a time schedule ll consisting of three columns (Z, c and f, entitled Time to next interest date the three colmnns themselves-being subrtitled May 1st, September 1st. and Jan. 1st, and under these sub-titles are given in black as at 7 their preceding dates in inverse order. Thus the left hand column (I. headed May 1st, reads Apr. 30tli.29tli, 528th, :tc. Suppose it shall be desired, on April 3rd, to ascertain the nmnber oii' dags to the next interest date: Find Apr. 3rd in this schedule and take the corresponding number in the days column G, immediately at the right of this schedule, which, in this instance, is 28, showing that on Apr. 3rd interest to the next date must be reckoned tor twenty-eight days.

To further extend the usefulness of this system to ordinary banking and general accounting, the days of the year are given in this schedule in red figures at 71., in eonnection with the days of the respective months; thus the 12th day of April is shown at [8 by the red number immediately above to be the [02nd day of the year, therefore, to determine the. number of days between any two dates, it is necessary only to take the (litterence betwetai the accontpanying numbes in red, which are termed the intlex nun'ibers. And to determine the ,maturi y of a note, with given date, at so many days, it is necessary only to add to the index number of the date of the note, the number of days the note has to run, and the result will be the index (iii the retntired date. Of course, in leap year, accom'it must be taken of the 29th of Fclnruary;-and also when the periods run over from one year to the next, allowance should be made for the difference of the days in the year. Thus if the required date is in the following I number the number ofdays to run and subtract 305 from this result. In leap year, it the period involves Feb. 29th. subtract one.

Having thus set forth the purpose of my invention and detailed its method of use, what is claimed as new is:

1. .lna system for computing interest, a.

table divided into sections containing interest amounts and indic columns adjacent said sections, and a time schedule column sub-divided into a. plurality of monthly columns, the dates of themonth alined with year, add to, the index a therefor. day;

therein alining with the numbers in the day columns whereby intervening time between interest periods may be determined.

2. In a system for computing interest, a table containing interest amounts and indicia therefor, a day column having indicia the corresponding interest amounts in the table. and a time schedule divided into a plurality of monthly columns having the dates thereofarranged in inverse order, said dates having associated therewith indicia designating the year dates of the several days whereby interest calculations may be made upon said table.

3. In a system tor computing interest, a table divided into decimal sections, said sections subdivided into. columns containing the primary digits, said digits having associated ther with amounts representing interest, a day column having indicia alincd with the correspondinginterest amounts in he. table, and indicia for determining the dates of maturity thereof.

4-. in a system for computing interest, a table divided into decimal sections, said sections sub-divided 'into columns containing amounts representing interest, the primary digits heading said interest columns, and a time schedule column, a day column having indicial alincd with the corresponding interest amounts, adjacent said sections whereby interest calculations may be determined.

5. In a system for computing interest, a table divided into decimal sections, said sections sub-divided into columns c'ontaining the primary digits, said digits having as7 sociated therewith amounts representing interest, a time schedule column adjacent said sections, said column divided into monthly periods. and day columns internu'diate said sections and adjacent the schedule column whereby the number ol" days to the next interest period may be determined.

(3. In a system for computing interest, a, table divided into decimal sections, said sections, subalividcd into columns contaii'iing thetprimary digits, said digits having associated therewith amounts representing in-' terest, and a time schedule column adjacent said sections, said schedule column being sub-divided into a plurality of monthly columns having the dates of said months arranged in inverse order. said dates having 'associated therewith numbers designating the year dates thereof, whereby the number of days between given dates may be computed for calculating interest.

in testimony whereof I have hereunto set my hand in presence of two subscribing wit nesscs. I

UH/FER- SPARKLTN. W itncsses:

.\'l. H. limo, \V. L. Youno.

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