Simple compound interest table

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Witt's book gave tables based on 10% (the maximum rate of interest allowable on loans) and other rates for different purposes, such as the valuation of property leases. It was wholly devoted to the subject (previously called anatocism), whereas previous writers had usually treated compound interest briefly in just one chapter in a mathematical textbook. Richard Witt's book Arithmeticall Questions, published in 1613, was a landmark in the history of compound interest. The Summa de arithmetica of Luca Pacioli (1494) gives the Rule of 72, stating that to find the number of years for an investment at compound interest to double, one should divide the interest rate into 72. It gives the interest on 100 lire, for rates from 1% to 8%, for up to 20 years. The Florentine merchant Francesco Balducci Pegolotti provided a table of compound interest in his book Pratica della mercatura of about 1340. Compound interest when charged by lenders was once regarded as the worst kind of usury and was severely condemned by Roman law and the common laws of many other countries.

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