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<p><unclear> nominally </unclear>(as we shall see) <unclear> | <p><unclear> nominally </unclear>(as we shall see) & <unclear>for</unclear> <gap/>, is perhaps<lb/> | ||
the most common: but instances of 2 1/2<lb/> | |||
per cent and <unclear>think</unclear> in <unclear>this</unclear> <gap/>, <gap/>a nominal<lb/> | |||
rate are<gap/> not <gap/>. The <gap/> <unclear>rate</unclear> <lb/> | rate are<gap/> not <gap/>. The <gap/> <unclear>rate</unclear> <lb/> | ||
this much may be <gap/> <unclear>in</unclear> general <unclear>terms</unclear> — that <unclear>it</unclear><lb/> | |||
</p> | <del><gap/></del> is <unclear>in every instance conditionally left:</unclear><lb/> | ||
<gap/> by what <unclear>precise amount</unclear> — <gap/> <gap/> <lb/><gap/> <gap/> of the circumstances by which it is <lb/><unclear>redeemed </unclear> — <gap/> are<lb/> | |||
the nature of the <gap/> <gap/> by which it is<lb/> | |||
<gap/> — it is improbable to <gap/>. In <gap/><lb/> | |||
instances where a <unclear>nominal</unclear> 3 per cent is<lb/> | |||
allowed, a <gap/> <unclear>has</unclear> 6 months to run without<lb/> | |||
any interest, before interest at that rate<lb/> | |||
is to be paid upon it: so that for the first <del>year</del><lb/> | |||
6 months the <unclear>nominal</unclear> 3 per cent amounts<lb/> | |||
to <unclear>nothing</unclear> and for <add>in <gap/></add> twelve months it amounts<lb/> | |||
to no more than 1 1/2 per cent, <gap/> indeed<lb/> | |||
correctly <gap/> to so much. In other<lb/> | |||
instances the risk is <del><gap/></del> payable not on demand<lb/> | |||
but at a certain number of days —<lb/> | |||
say one and twenty — after <gap/>: so that<lb/> | |||
<gap/> the obligation of waiting one and twenty<lb/> | |||
days and upwards the advantage in <unclear>repent</unclear><lb/> | |||
of interest is clogged with the <gap/> of <gap/><lb/> | |||
<gap/> — or <add>at any rate</add> of the <gap/> <unclear>is</unclear> performed<lb/> | |||
by <unclear>letter</unclear>, with <del><gap/></del> <gap/> and a <gap/>,<lb/> with or without the <gap/> of <gap/><lb/> | |||
<gap/>.</p> | |||
<!-- There are notes in pencil, referring to annuities, in the margins of this page. --> | <!-- There are notes in pencil, referring to annuities, in the margins of this page. --> | ||
nominally (as we shall see) & for , is perhaps
the most common: but instances of 2 1/2
per cent and think in this , a nominal
rate are not . The rate
this much may be in general terms — that it
is in every instance conditionally left:
by what precise amount —
of the circumstances by which it is
redeemed — are
the nature of the by which it is
— it is improbable to . In
instances where a nominal 3 per cent is
allowed, a has 6 months to run without
any interest, before interest at that rate
is to be paid upon it: so that for the first year
6 months the nominal 3 per cent amounts
to nothing and for in twelve months it amounts
to no more than 1 1/2 per cent, indeed
correctly to so much. In other
instances the risk is payable not on demand
but at a certain number of days —
say one and twenty — after : so that
the obligation of waiting one and twenty
days and upwards the advantage in repent
of interest is clogged with the of
— or at any rate of the is performed
by letter, with and a ,
with or without the of
.
