Farm Plan
Payment Schedules |
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| Number of Acres Total | 71 | Number of participants | |||||
| Beginning Acres | 61 | 6 | |||||
| Book Value per acre | $ 2,300.00 | Total Equity | |||||
| Actual Value per acre | $ 2,800.00 | $ 140,300.00 | Beginning | ||||
| Amount Gifted | $ 20,000.00 | $ 170,800.00 | End | ||||
| Loan amount | $ 130,000.00 | ||||||
| Taxes | $ 1,500.00 | Number of payments | |||||
| Down payment | 360.00 | ||||||
| Participant Amount | $ 21,916.67 | ||||||
| Periodic Rate | Monthly Interest Rate | ||||||
| Borrowing rate | 6.5% | 0.54167% | |||||
| Savings Rate | 5% | 0.41667% | |||||
| Years | 30 | Future Value Per Participant Investment | |||||
| Payment period per year | 12 | $53,992.52 | |||||
| Beginning | End | ||||||
| Acres | 41 | 71 | Future Value Per Participant Investment | ||||
| Income per acre | $ 140.00 | $ 140.00 | $28,466.67 | ||||
| Total income per Year | $ 5,740.00 | $ 9,940.00 | |||||
| Total taxes | $ 1,288.73 | $ 1,500.00 | |||||
| Net income per year | $ 4,451.27 | $ 8,440.00 | |||||
Participant Income |
Participant Net Liability |
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Year |
Acres | Total | Per month | Yearly |
Monthly |
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| 1 | 1.45 | $ 202.86 | $ 16.91 | $1,459.48 | $121.62 | ||
| 2 | 2.90 | $ 405.72 | $ 33.81 | $1,256.62 | $104.72 | ||
| 3 | 4.35 | $ 608.58 | $ 50.72 | $1,053.76 | $87.81 | ||
| 4 | 5.80 | $ 811.44 | $ 67.62 | $850.90 | $70.91 | ||
| 5 | 7.25 | $ 1,014.30 | $ 84.53 | $648.04 | $54.00 | ||
| 6 | 8.69 | $ 1,217.16 | $ 101.43 | $445.18 | $37.10 | ||
| 7 | 10.14 | $ 1,420.02 | $ 118.34 | $242.32 | $20.19 | ||
Last Updated on 5/8/02
By Jeffrey Thill