66] ANN upon paying the price, docs not immediately enter upon possession : the annuity not commencing till some time after. The interest upon annuities may be computed either in the simple or compound manner. But the latter, being most equitable, is ge- nerally preferred. In the first class, viz. in those which extend for a limttted period, the principal considerations are, the annuity, rate, and Lime being giver^ to find the amount, or sum of yearly payments, and interest. These are readily ascertain r-d, by a series of algebraical calculation.; In freehold estates, the principal circumstances tobcattended to, arc, 1 . The annuity, or yearly rent. 2. Theprice, or present value ; and, . 3 . The rate of interest. A N.N The value of life-annuities is de- termined by comparative observa- tions and calculations .derived from the bills of mortality. Several computations have b en made for this purpose; the most esteemed of which are those by Dr. Hal- i.ky, Mr. Simpson, and M. De MoiVI'.E. Breslaw, the capital of Silesia, being a central place, and not much crowded, was fixed upon by Dr. Halli.y, who had recourse to the bills of mortality, when he com- posed his table. He selected 1000 persons, all born in one year, and observed, how many of these re- mained alive every year from their birih, to the extinction of the last j and, consequently, ascertained the number which died in each yeau, as follows : Persons
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Persons 1 1 Age. Persons - ■ q 1 living. Age. living. living, j living. 1000 24 573 AT 377 I 70 142 2 t"- - &SS 25 567 43 71 131 3 798 S6 560 49 357 72 120 i 4 760 57 553 50 346 73 109 ! 5 732 28 546 51 335 74 98 ! 6 710 20 530 52 3te 75 88 7 6()2 680 30 531 53 313 76 78 8 31 523 54 302 77 68 9 6/0 32 5 1 5 5,5 202 78 58 10 Ob 1 1 33 507 50 282 79 49 it 653 34 40/) 57 272 80 41 12 646 35 4pb 53 262 81 34 li 13 640 ! 36 481 1 59 252 82 28 14 634 37 472 | 60 242 83 23 15 628 38 4C;,3 61 232 84 20 i 1(5 622 39 4.1 4 63 222 S 15 17 616 40 44a 212 11 18 610 41 64 87 8
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C'04 5p8 42 &5 102 88 5 20 43 417 66 182 89 21 .502 44 -107 67 172 90 1 22 '586 45 68 162 91
23 579 46 -387 69 152 1 As
