5 months. In what time ought the whole to be paid at once ? Answer, 5 months. 3. A owes B $800, to be paid as follows: $200 in 3 months, $150 in 4 months, and the remainder in 8 months. What is the equated time for the payment of the whole ? Answer, 6 months. 4. A owes B $380, to be paid as follows: $100 in 6 months, $120 in 7 months, and $160 in 10 months. What is the equated time for the payment of the whole?... Answer, 8 months. 5. A merchant has owing him $698, of which $181 is to be paid at the present time, $199 in 3 months, and $318 in 8 months. What is the equated time for the payment of the whole? Answer, 4 months. 6. A owes B $500, of which is to be paid in 3 months, in 8 months, and the remainder in 2 months. the equated time for the payment of the whole ? What is Answer, 3 months, 21 days. 7. A has owing him $924, of which is to be paid in 3 months, and in 2 years. In what time ought the whole to be paid? Answer, 13 months. 8. I have three notes against a man: one of $400, due in 5 months; one of $500, due in 6 months; and the other of $350, due in 9 months; and he wishes to pay the whole at once. In what time ought he to pay it? in Answer, 6.52 months. 9. A owes B $960, of which is due in 3 months, 1 months, in 9 months. What is the equated time for payment of the whole? Answer, 3 months, 15 days. 11. A merchant bought goods to the amount of $3000, and agreed to pay $500 ready money, $600 in 4 months, and the remainder in 9 months; but they agree to make one payment of the whole. What is the equated time? Answer, 6 months, 15 days. FELLOWSHIP. FELLOWSHIP is a rule by which merchants and others, trading in company, may ascertain their respective gain or loss, in proportion to each man's share in the joint stock. The money, or value of property vested in trade, is called the Capital, or Stock. The gain or loss to be shared by the company, is called the Dividend. When the several stocks are employed without regard to time, it is called Single Fellowship. 1. Two men, A and B, bought a horse for $60, of which sum A paid $40, and B paid $20. They sold the horse for $90. What was each man's share of the gain? It is evident, that each man's share of the gain should bear the same ratio to the whole gain, that his share of the stock bears to the whole stock. Now, the whole stock was $60, of which A paid $40; then A paid 8 of the whole stock, and B paid $20-28=3 of the whole stock. As the whole gain was $30, A's share is of 30-$20, and B's share is of 30-$10. Hence the RULE : What gains each in As the whole stock is to each man's stock, so is the whole gain or loss to each man's share of the gain or loss. Or the question may be expressed thus: dividual stock, if the whole stock give Whole stock $60-A's stock $40. Whole gain $30-B's stock $20. gain? Operation. Operation. How much A's gain. 40 A's stock. B's gain. 20 B's stock. Whole stock $60 30$ whole gain. 20 Ans. A's gain. 30$ $60. $10, Ans. B's gain. Proof-Add together the respective gains, and, if the work be right, their sum will equal the whole gain. 2. A, B and C trade in company. A's stock is $240, B's $360, and C's $600. They gain $325, What is each man's share of the gain? Answer, 3. A and B bought a lot of land paid $400, and A the remainder. A's gain, $ 65.00. gain $200. What was each man's share of the gain? QUESTIONS. Answer, B's gain, 1. What is Fellowship? 2. What is capital, or stock? 3. What is the dividend? 4. What is Single Fellowship? 5. What is the rule? 6. What is the method of proof? 4. A and B owned a ship, valued at $72000-lost at sea; insurance $50000. What was each man's loss, supposing A owned 3 times as much as B? 5. A man dying, leaves property to the amount of $3000. A has a note of $600 against the estate, B has a note of $1800, and C a note of $1600. How much must each lose? A's loss, $150. い Answer, B's loss, 450. 6. Three partners, A, B and C, shipped 216 horses for the south. A's share of the cost of the horses was $2880; B's, $5760; C's, $4320. During the voyage they were obliged to throw 90 overboard. each partner lose? How many horses did A lost 20. 7. A and B trade in company. A's stock was 60 guineas, and his share of the gain was ğ. 8. Three men gained in an a certain sum, B put in much as A and B both. the gain? What was B's stock? adventure $96. A put in twice as much as A, and C as What was each man's share of (A's, $16. Answer, B's, 32. B's $300, C's $550. They lose 5 per cent. by trading. What is each man's share of the loss? 11. A man by his will left his estate to his children, as follows: to A he gave $5000, to B $4500, to C $4500, and to D $4000; but his whole estate amounted to but $12000. How much did each receive? A received $3333.33. In order to the assessment of taxes on a town, the following facts should be known: I. The amount of tax assessed by the Legislature of the State. II. The inventory of all the rateable property in the town. RULE. I. From the inventory of the real and personal property of the whole town, deduct the amount of poll taxes. II. Find the tax on a dollar, and multiply each man's inventory by it, and to the product add his poll tax. EXAMPLES. 1. A town inventoried at $160,000, raises a tax of $3400. There are 400 rateable polls, taxed 50 cents each. What is the tax on a dollar, and what is A's tax, whose real and personal estate is inventoried at $1683, and who pays for one poll? First deduct the amount of poll tax for 400 polls, at 50 cents each, 400×.50 $200, amount of poll tax; then $3400-200-$3200 to be assessed on the whole proper-ty. Secondly, find the tax on a dollar. Operation. What tax. 1 Answer, .02 cts. on $1. Then to find A's tax, multiply the amount of his inventory by the tax on a dollar, and to the product add his poll tax-thus, $1683.02=$33.66+.50 $34.16, A's tax. Or, having found the tax on a dollar, a table may be QUESTIONS. 1. What facts should be known, in order to the assessment of taxes? 2. What is the rule? formed, containing the tax on 1, 2, 3, or to 20 dollars; then on 30, 40, &c., to 100 dollars; then on 110, 120, &c., to 1000 dollars. Then, having the inventory of the property of an individual, his tax may be readily made out. TABLE. Tax on $1 is $.02)Tax on $16 is $.32|Tax on $130 is$2.60 We find by the table, the tax on $1000 to be $20.00 the tax on 6 600 12.00 Poll tax, Amount of A's tax, $34.16 2. The inventory of real and personal estate in the town of for the year 1837, is $800,000. The amount assessed on each rateable poll is $1. The number of polls is 400. The amount of town tax voted to be raised for the year 1837 is $2000. The proportion of state tax for said town for that year is $400-county tax $200-the amount of school tax is $800-the highway tax is $1200. How much is A's town, state, county, school and highway |