You are reading a page from The Mathematical Theory of Investment, Ernest Brown Skinner, (1913)
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                         LOGARITHMS              35
.1673. The difference between this mantissa and the next higher
is .0030, while the difference between it and .1694 is .0021.  We
have, then, to increase the number 147, which corresponds to
" the mantissa .1673, by |^ of 1, or .7. We find, then, that .1694
is the mantissa for 147.7 and, by the rule for pointing,
                           M=.001477.
   The accuracy of results obtained by means of logarithms de-
pends upon the number of decimal places given in the tables that
are used, and this accuracy has reference to the significant figures
counted from the left. In general, a table will give trustworthy re-
sults in as many significant figures, counted from the left, a-s there
are decimal places given in the logarithms. For example, four-
place logarithms would show no difference between 35492367
 and 35490000, while, on the other hand, a result like .00003459
 would be considered accurate to the eighth decimal place.
   Logarithms cannot be used to any great extent in financial
 computations where large sums are involved. For example, it
 would take a nine-place table to yield exact results if the sums
 involved should reach a million dollars.
                             EXAMPLES
   Find by logarithms the values of the expressions in Examples 1-3 and
 state the degree of accuracy in each case.
    V293. (-.034)1'   , V2356.V^3426   3 /(35.62y  (.004593)'-\
 -     2345    '    "     (.02345)3    '     \ .   (29342)*     /
   4. By logarithms find an approximate value for the twentieth term of
 the series                   1+^+^+....
   5. Find the simple interest on $6237.43 for 7 years and 3 months at
 5.632 per cent. Assuming that the work has been done with four-place
 logarithms, is the result sufficiently accurate for commercial purposes?
 Explain.
   6. Find the volume of a right circular cone whose base is 6 feet in diam-
 eter and whose altitude is 16 feet, assuming the formula ^ w'^h for volume.
    7. Find the value of a solid sphere of copper 16 inches in diameter at
 19.75 cents per pound, knowing that the specific gravity of copper is 8.838
 and that a cubic foot of water weighs 62.5 pounds.
   
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