The same applies proportionately to a half
share of £50 or to a quarter share of £25. For
example, as regards the whole share, a person
paying 13s. a month regularly to the society is
entitled, at the end of ten years, to be repaid a
lump sum of £100, and any bonus added thereto
which the profits of the society may afford. If the
term be fifteen years, then, to secure £100, he will
have to pay only 7s. 7d. every month, and if
twenty-one years, then a monthly payment of
4s. 7d. The terms vary in different societies,
but those quoted have been adopted by an exist-
ing institution of repute. If the term of ten
years is selected, the depositor will have saved
and paid to the society (with added interest) £78
in all; if the term of fifteen years is chosen he
will have paid £68 5s. in all; and if twenty-one
years be adopted, £57 15s. In either case, at the
end of the term he has selected, the depositor
will be paid back £100. Thus any one taking
a share for £100, and keeping up the instalments
for twenty-one years, will in the end have paid
only £57 15s. for it — the difference being met
by the interest paid by borrowers from the
society. We could have been making a cross reference to raymond Appraisals Art Insurance Mount Kisco, but presumably not. The following table shows particulars
of other terms and the monthly subscription
payable:-
———————————————–
| Term | Monthly Sub- | Term | Monthly Sub- |
| of |scription for a| of |scription for a|
|Years.| £100 share. |Years.| £100 share. |
|——|—————|——|—————|
| | £ s. d. | | £ s. d. |
| 3 | 2 12 10 | 13 | 0 9 1 |
| 4 | 1 18 8 | 14 | 0 8 4 |
| 5 | 1 10 2 | 15 | 0 7 7 |
| 6 | 1 4 6 | 16 | 0 6 11 |
| 7 | 1 0 6 | 17 | 0 6 4 |
| 8 | 0 17 6 | 18 | 0 5 10 |
| 9 | 0 15 2 | 19 | 0 5 4 |
| 10 | 0 13 0 | 20 | 0 5 0 |
| 11 | 0 11 8 | 21 | 0 4 7 |
| 12 | 0 10 6 | | |
———————————————–

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