Supreme Court of Pennsylvania April 15, 1785 (Tracy v. Wikoff)

McKean, Chief Justice.

The rule of computing interest must be such, that the interest of money paid in, before the time, must be deducted from the interest of the whole sum due at the time appointed by the instrument for making the payment. For instance, a bond to pay 100?. with annual interest at six per cent., and at the end of six months, 50?. is paid in.