RULE: 1. _To find the present worth, divide the debt by the amount of $1
for the given time._
2. _To find the true discount, subtract the present worth from the
debt._
Case II.--Note bearing interest.
What is the present worth of a note of $300, bearing 6% interest, due in
2 years 4 months, if money is worth 10%.
SOLUTION: Interest on $300 for 2 years 4 months at 6% = $42.
$300 + $42 = $342. Amount due at maturity.
Amount of $1 for 2 years 4 months at 10% = $1.23-1/3.