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nominally (as we shall see) & for ,
most common: but instances of 2 1/2
per cent and think in this , a nominal
rate not . The rate
this much may be in general terms — that it
is in every instance conditionally left:
by what amount —
of the circumstances by which it is
redeemed — it is improbable to . In
instances when 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 11/2 per cent,
correctly to so much. In
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
of interest is with the of
— or at any rate of the is performed
by letter, with and a
, with or without the of
.
