Assumptions

Enter values in yellow cells only, other cells are locked

Total apartment cost
14,500,000
Down payment %
95%
Home Loan Rate of Interest
10.00%
Tenure in months of home loan
300
Maintenance as % of apartment cost
1%
Maintenance increases by % per annum
6%
Annual House Price Appreciation
9%
Brokerage when buying/selling
0%
Montly Rent for apartment
40,000
Annual Increment in monthly rent
10%
Saving Growth for Opportunity Cost
14%
Tax bracket
30.00%
Auto Calculated Values
Home Loan amount
725,000
EMI
6,588
Brokerage on buy/sell
0
Rental Deposit, 1 year advance
200,000
Brokers fees, 2 months rent
26,000
Total amount of principal for tax deduct
0
Total amount of interest for tax deducti
150,000

Page 1

Buy Rent Outflow

Buy vs Rent Analysis

Year

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

Total Rent
Outflow

Total Buy
Outflow

890,750
1,546,988
1,893,626
3,308,182
3,055,671
5,313,903
4,401,045
1,630,802
5,957,478
2,392,079
7,756,790
3,351,120
9,835,481
4,544,320
12,235,412
6,013,947
15,004,579
7,808,934
18,198,000
9,986,165
21,878,727
12,611,392
26,119,005
15,760,662
31,001,598
19,521,851
36,621,295
23,996,428
43,086,647
29,301,472
50,521,935
35,571,984
59,069,427
42,963,532
68,891,960
51,655,281
80,175,878
61,853,456
93,134,398
73,795,309
108,011,449
87,753,949
125,086,061 104,042,682
144,677,368 123,021,763
167,150,334 145,104,922
192,922,277 170,767,117
###
1,043,618,238

Rent - Buy
Outflow (in
lakhs)
-6.56
-14.15
-22.58
27.70
35.65
44.06
52.91
62.21
71.96
82.12
92.67
103.58
114.80
126.25
137.85
149.50
161.06
172.37
183.22
193.39
202.58
210.43
216.56
220.45
221.55
2,840

Page 2

What is
better ?
Renting
Renting
Renting
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
Buying
-

Buy Rent Outflow

http://news.in.msn.com/rupeetalk/article.aspx?cp-documentid=3965604&page=0
http://www.nytimes.com/interactive/business/buy-rent-calculator.html
http://www.itrust.in/tools-and-calculators/Buy-vs-Rent/Calculator.jsp
http://savingmoneyirl.blogspot.com/2010/04/evaluate-opportunity-cost-rent-or-buy.html

Page 3

Buy Rent Outflow

Page 4

Buy Rent Outflow

t-or-buy.html

Page 5

Buy
BUY
Year

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

SALE

Downpayme Brokerag
nt Costs
e on buy

13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
13,775,000
344,375,000

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Sale Cost

Brokerag
e on sell

15,805,000
17,227,450
18,777,921
20,467,933
22,310,047
24,317,952
26,506,567
28,892,158
31,492,453
34,326,773
37,416,183
40,783,639
44,454,167
48,455,042
52,815,996
57,569,435
62,750,684
68,398,246
74,554,088
81,263,956
88,577,712
96,549,706
105,239,180
114,710,706
125,034,670
###

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Page 6

HOME LOAN
Total
Total
Tax paid Cumulativ
Cumulativ
on sale
e
e Interest
Principal
1,305,000
2,727,450
4,277,921
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
8,310,371

6,866
14,451
22,830
32,087
42,313
53,609
66,089
79,875
95,105
111,930
130,517
151,049
173,732
198,790
226,472
257,053
290,836
328,156
369,384
414,930
465,244
520,827
582,231
650,064
725,000
-

72,191
143,663
214,341
284,141
352,972
420,732
487,310
552,580
616,280
678,372
738,688
797,041
853,226
907,016
958,161
1,006,382
1,051,375
1,092,800
1,130,286
1,163,418
1,192,160
1,215,634
1,233,287
1,244,511
1,248,632
-

Buy
HOME LOAN

MAINTENANCE

Lost Oportunity Costs for

downpayment and brokerage

Total
Remaining Maintenan Cumulative
Yearly
Cumulativ
Principal to
ce per Maintenance Values of
e Saved
be paid up
year
per year
deposit
in Tax
21,657
43,099
64,302
85,242
105,892
126,220
146,193
165,774
184,884
203,512
221,606
239,112
255,968
272,105
287,448
301,915
315,412
327,840
339,086
349,025
357,648
364,690
369,986
373,353
374,590
-

718,134
108,750
710,549
115,275
702,170
122,192
692,913
129,523
682,687
137,294
671,391
145,532
658,911
154,264
645,125
163,520
629,895
173,331
613,070
183,731
594,483
194,755
573,951
206,440
551,268
218,826
526,210
231,956
498,528
245,873
467,947
260,626
434,164
276,263
396,844
292,839
355,616
310,409
310,070
329,034
259,756
348,776
204,173
369,703
142,769
391,885
74,936
415,398
0
440,322
12,115,559 5,966,516

108,750
224,025
346,217
475,739
613,034
758,566
912,830
1,076,350
1,249,681
1,433,411
1,628,166
1,834,606
2,053,432
2,285,388
2,531,262
2,791,887
3,068,151
3,360,990
3,671,399
4,000,433
4,349,209
4,718,912
5,110,796
5,526,194
5,966,516
-

Page 7

15,703,500
17,901,990
20,408,269
23,265,426
26,522,586
30,235,748
34,468,753
39,294,378
44,795,591
51,066,974
58,216,350
66,366,639
75,657,968
86,250,084
98,325,096
###
###
###
###
###
###
###
###
###
###
###

Profits that
could have
been made

1,928,500
4,126,990
6,633,269
9,490,426
12,747,586
16,460,748
20,693,753
25,519,378
31,020,591
37,291,974
44,441,350
52,591,639
61,882,968
72,475,084
84,550,096
98,315,609
114,008,294
131,897,956
152,292,169
175,541,573
202,045,893
232,260,818
266,705,833
305,973,149
350,737,890
###

Buy

ortunity Costs for

ment and brokerage

Lost Opportinuty Costs for yearly costs

Value of
Cumulative
Opportuni
Opportunity
cumulatve
Opportunity
0pportunity
ty Loss on
Costs for
EMI per year
EMI
Costs for
loss after
EMI after
Maintenance
Opportunit
Maintenance
tax
tax
after tax
y Loss
1,349,950
79,057
2,888,893
79,057
4,643,288
79,057
6,643,298
79,057
8,923,310
79,057
11,522,524
79,057
14,485,627
79,057
17,863,565
79,057
21,714,414
79,057
26,104,382
79,057
31,108,945
79,057
36,814,147
79,057
43,318,078
79,057
50,732,559
79,057
59,185,067
79,057
68,820,926
79,057
79,805,806
79,057
92,328,569
79,057
106,604,518
79,057
122,879,101
79,057
141,432,125
79,057
162,582,573
79,057
186,694,083
79,057
214,181,205
79,057
245,516,523
79,057
###
1,976,424

85,316
59,721
123,975
86,783
182,577
127,804
272,745
190,922
293,454
205,418
450,228
315,159
419,853
293,897
660,916
462,641
563,949
394,764
909,959
636,972
728,218
509,753
1,203,260
842,282
915,485
640,839
1,547,578
1,083,304
1,128,969
790,278
1,950,651
1,365,456
1,372,341
960,639
2,421,340
1,694,938
1,649,785 1,154,849
2,969,780
2,078,846
1,966,071 1,376,250
3,607,570
2,525,299
2,326,637 1,628,646
4,347,971
3,043,580
2,737,683 1,916,378
5,206,149
3,644,304
3,206,274 2,244,392
6,199,440
4,339,608
3,740,469 2,618,328
7,347,657
5,143,360
4,349,451 3,044,616
8,673,442
6,071,410
5,043,690 3,530,583
10,202,664
7,141,865
5,835,123 4,084,586
11,964,874
8,375,412
6,737,356 4,716,149
13,993,823
9,795,676
7,765,902 5,436,132
16,328,057
11,429,640
8,938,445 6,256,912
19,011,589
13,308,112
10,275,144 7,192,600
22,094,673
15,466,271
11,798,980 8,259,286
25,634,675
17,944,273
13,536,153 9,475,307
29,697,083
20,787,958
15,516,531 10,861,572 34,356,642
24,049,649
###
###
231,176,741 161,823,719

Page 8

Rent
For rent paid each year
Year

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

Rental
Return
Deposit+Brok of Rent
ers Fees
Deposit

226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
226000
-

-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-200000
-

Rent per
month in
each year

40,000
44,000
48,400
53,240
58,564
64,420
70,862
77,949
85,744
94,318
103,750
114,125
125,537
138,091
151,900
167,090
183,799
202,179
222,397
244,636
269,100
296,010
325,611
358,172
393,989
3,933,882

Page 9

Lost Oportunity Costs f

deposit and broke

Yearly
Total Rent Cumulatve
Values of
yer year
rent paid
deposit

480,000
528,000
580,800
638,880
702,768
773,045
850,349
935,384
1,028,923
1,131,815
1,244,996
1,369,496
1,506,446
1,657,090
1,822,799
2,005,079
2,205,587
2,426,146
2,668,760
2,935,636
3,229,200
3,552,120
3,907,332
4,298,065
4,727,872
47,206,589

480,000
1,008,000
1,588,800
2,227,680
2,930,448
3,703,493
4,553,842
5,489,226
6,518,149
7,649,964
8,894,960
10,264,456
11,770,902
13,427,992
15,250,791
17,255,870
19,461,457
21,887,603
24,556,363
27,492,000
30,721,200
34,273,320
38,180,652
42,478,717
47,206,589
47,206,589

257,640
293,710
334,829
381,705
435,144
496,064
565,513
644,685
734,940
837,832
955,128
1,088,846
1,241,285
1,415,065
1,613,174
1,839,018
2,096,481
2,389,988
2,724,587
3,106,029
3,540,873
4,036,595
4,601,718
5,245,959
5,980,393
###

Rent

http://news.in.msn.com/rupeetalk/article.aspx?cp-documentid=3965604&page=0
http://www.nytimes.com/interactive/business/buy-rent-calculator.html
http://www.itrust.in/tools-and-calculators/Buy-vs-Rent/Calculator.jsp
http://savingmoneyirl.blogspot.com/2010/04/evaluate-opportunity-cost-rent-or-buy.html

Page 10

Rent
Lost Oportunity Costs for rental
deposit and brokerage

Lost Oportunity Costs for rent

Value of
Cumulative
Value of each
previous Opportunity
Profits that
0pportunity years rentals at
loss on all
year's
could have
loss after
the end of that
rental each
rental +
been made
tax
year
year
this year's
rental
31,640
67,710
108,829
155,705
209,144
270,064
339,513
418,685
508,940
611,832
729,128
862,846
1,015,285
1,189,065
1,387,174
1,613,018
1,870,481
2,163,988
2,498,587
2,880,029
3,314,873
3,810,595
4,375,718
5,019,959
5,754,393
41,207,200

22,148
47,397
76,180
108,993
146,401
189,045
237,659
293,079
356,258
428,282
510,390
603,993
710,699
832,345
971,022
1,129,113
1,309,337
1,514,792
1,749,011
2,016,020
2,320,411
2,667,416
3,063,003
3,513,971
4,028,075
28,845,040

518,003
569,804
626,784
689,463
758,409
834,250
917,675
1,009,442
1,110,386
1,221,425
1,343,568
1,477,924
1,625,717
1,788,289
1,967,117
2,163,829
2,380,212
2,618,233
2,880,057
3,168,062
3,484,868
3,833,355
4,216,691
4,638,360
5,102,196
50,944,121

518,003
362,602
1,160,328
812,229
1,949,558
1,364,691
2,911,959
2,038,371
4,078,042
2,854,629
5,483,218
3,838,252
7,168,543
5,017,980
9,181,581
6,427,107
11,577,389
8,104,172
14,419,648 10,093,754
17,781,967 12,447,377
21,749,367 15,224,557
26,419,995 18,493,996
31,907,083 22,334,958
38,341,192 26,838,834
45,872,788 32,110,951
54,675,190 38,272,633
64,947,950 45,463,565
76,920,720 53,844,504
90,857,683 63,600,378
###
74,943,839
###
88,119,325
###
103,407,714
###
121,131,646
###
141,661,613
###
898,809,678

Page 11

Rent

Page 12

loan amortization

Loan Amount (pv)

Interest Rate (rate)
Total # of Periods (Nper)
Payment per Period
Total Interest Paid

725,000
0.83%
300
6,588.08
###

Period

Payment
Amount

Interest

Cumulative
Interest

Principal

Principal
Paid

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39

6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08

6,041.67
6,037.11
6,032.52
6,027.89
6,023.22
6,018.52
6,013.77
6,008.98
6,004.16
5,999.29
5,994.39
5,989.44
5,984.45
5,979.42
5,974.35
5,969.23
5,964.08
5,958.88
5,953.63
5,948.35
5,943.01
5,937.64
5,932.22
5,926.75
5,921.24
5,915.69
5,910.08
5,904.43
5,898.73
5,892.99
5,887.20
5,881.36
5,875.47
5,869.53
5,863.54
5,857.50
5,851.42
5,845.28
5,839.09

6,041.67
12,078.78
18,111.30
24,139.19
30,162.42
36,180.93
42,194.71
48,203.69
54,207.85
60,207.14
66,201.53
72,190.97
78,175.42
84,154.84
90,129.18
96,098.42
102,062.49
108,021.37
113,975.00
119,923.35
125,866.36
131,804.00
137,736.22
143,662.97
149,584.21
155,499.90
161,409.98
167,314.41
173,213.15
179,106.14
184,993.33
190,874.69
196,750.16
202,619.69
208,483.23
214,340.73
220,192.15
226,037.43
231,876.51

546.41
550.97
555.56
560.19
564.86
569.56
574.31
579.10
583.92
588.79
593.69
598.64
603.63
608.66
613.73
618.85
624.00
629.20
634.45
639.73
645.07
650.44
655.86
661.33
666.84
672.40
678.00
683.65
689.35
695.09
700.88
706.72
712.61
718.55
724.54
730.58
736.67
742.80
748.99

546.41
1,097.38
1,652.94
2,213.13
2,777.98
3,347.55
3,921.86
4,500.95
5,084.88
5,673.66
6,267.36
6,866.00
7,469.63
8,078.29
8,692.02
9,310.87
9,934.87
10,564.08
11,198.53
11,838.26
12,483.33
13,133.77
13,789.63
14,450.96
15,117.80
15,790.19
16,468.19
17,151.84
17,841.18
18,536.27
19,237.16
19,943.88
20,656.49
21,375.05
22,099.58
22,830.16
23,566.83
24,309.63
25,058.62

Page 13

loan amortization
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93

6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08

5,832.84
5,826.55
5,820.21
5,813.81
5,807.35
5,800.85
5,794.29
5,787.67
5,781.00
5,774.28
5,767.50
5,760.66
5,753.76
5,746.81
5,739.80
5,732.73
5,725.60
5,718.41
5,711.17
5,703.86
5,696.49
5,689.06
5,681.57
5,674.01
5,666.40
5,658.72
5,650.97
5,643.16
5,635.29
5,627.35
5,619.34
5,611.27
5,603.13
5,594.92
5,586.65
5,578.30
5,569.89
5,561.40
5,552.84
5,544.22
5,535.52
5,526.75
5,517.90
5,508.99
5,499.99
5,490.93
5,481.78
5,472.56
5,463.27
5,453.89
5,444.44
5,434.91
5,425.30
5,415.61

237,709.36
243,535.91
249,356.11
255,169.92
260,977.27
266,778.12
272,572.41
278,360.08
284,141.08
289,915.36
295,682.86
301,443.51
307,197.27
312,944.08
318,683.88
324,416.61
330,142.21
335,860.63
341,571.79
347,275.65
352,972.14
358,661.21
364,342.77
370,016.79
375,683.19
381,341.90
386,992.88
392,636.04
398,271.33
403,898.68
409,518.02
415,129.29
420,732.42
426,327.34
431,913.99
437,492.29
443,062.17
448,623.57
454,176.42
459,720.64
465,256.16
470,782.90
476,300.81
481,809.79
487,309.78
492,800.71
498,282.49
503,755.05
509,218.32
514,672.22
520,116.66
525,551.57
530,976.87
536,392.48
Page 14

755.24
761.53
767.88
774.27
780.73
787.23
793.79
800.41
807.08
813.80
820.59
827.42
834.32
841.27
848.28
855.35
862.48
869.67
876.91
884.22
891.59
899.02
906.51
914.07
921.68
929.36
937.11
944.92
952.79
960.73
968.74
976.81
984.95
993.16
1,001.43
1,009.78
1,018.19
1,026.68
1,035.24
1,043.86
1,052.56
1,061.33
1,070.18
1,079.10
1,088.09
1,097.16
1,106.30
1,115.52
1,124.81
1,134.19
1,143.64
1,153.17
1,162.78
1,172.47

25,813.86
26,575.39
27,343.26
28,117.54
28,898.27
29,685.50
30,479.29
31,279.70
32,086.78
32,900.58
33,721.17
34,548.59
35,382.91
36,224.18
37,072.46
37,927.81
38,790.29
39,659.96
40,536.87
41,421.09
42,312.68
43,211.70
44,118.21
45,032.28
45,953.96
46,883.32
47,820.43
48,765.35
49,718.14
50,678.87
51,647.61
52,624.42
53,609.37
54,602.53
55,603.96
56,613.74
57,631.94
58,658.62
59,693.85
60,737.72
61,790.28
62,851.61
63,921.79
65,000.88
66,088.97
67,186.13
68,292.42
69,407.94
70,532.75
71,666.94
72,810.58
73,963.75
75,126.53
76,298.99

loan amortization
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147

6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08

5,405.84
5,395.99
5,386.06
5,376.04
5,365.94
5,355.75
5,345.48
5,335.13
5,324.69
5,314.16
5,303.54
5,292.84
5,282.05
5,271.16
5,260.19
5,249.12
5,237.96
5,226.71
5,215.37
5,203.93
5,192.39
5,180.76
5,169.04
5,157.21
5,145.29
5,133.26
5,121.14
5,108.92
5,096.59
5,084.16
5,071.63
5,058.99
5,046.25
5,033.40
5,020.44
5,007.38
4,994.21
4,980.93
4,967.53
4,954.03
4,940.41
4,926.68
4,912.84
4,898.87
4,884.80
4,870.60
4,856.29
4,841.86
4,827.31
4,812.64
4,797.84
4,782.92
4,767.88
4,752.71

541,798.33
547,194.32
552,580.37
557,956.41
563,322.35
568,678.10
574,023.59
579,358.72
584,683.40
589,997.56
595,301.11
600,593.95
605,875.99
611,147.16
616,407.34
621,656.47
626,894.43
632,121.14
637,336.51
642,540.44
647,732.84
652,913.60
658,082.64
663,239.85
668,385.13
673,518.40
678,639.54
683,748.45
688,845.04
693,929.20
699,000.83
704,059.82
709,106.07
714,139.47
719,159.91
724,167.29
729,161.50
734,142.43
739,109.96
744,063.99
749,004.40
753,931.08
758,843.91
763,742.79
768,627.59
773,498.19
778,354.48
783,196.34
788,023.65
792,836.29
797,634.13
802,417.05
807,184.92
811,937.63
Page 15

1,182.24
1,192.09
1,202.02
1,212.04
1,222.14
1,232.33
1,242.60
1,252.95
1,263.39
1,273.92
1,284.54
1,295.24
1,306.03
1,316.92
1,327.89
1,338.96
1,350.12
1,361.37
1,372.71
1,384.15
1,395.69
1,407.32
1,419.04
1,430.87
1,442.79
1,454.82
1,466.94
1,479.16
1,491.49
1,503.92
1,516.45
1,529.09
1,541.83
1,554.68
1,567.64
1,580.70
1,593.87
1,607.16
1,620.55
1,634.05
1,647.67
1,661.40
1,675.25
1,689.21
1,703.28
1,717.48
1,731.79
1,746.22
1,760.77
1,775.45
1,790.24
1,805.16
1,820.20
1,835.37

77,481.23
78,673.32
79,875.35
81,087.39
82,309.53
83,541.86
84,784.45
86,037.40
87,300.80
88,574.72
89,859.25
91,154.49
92,460.53
93,777.45
95,105.34
96,444.30
97,794.41
99,155.78
100,528.49
101,912.64
103,308.33
104,715.65
106,134.69
107,565.56
109,008.35
110,463.17
111,930.11
113,409.28
114,900.77
116,404.69
117,921.14
119,450.23
120,992.06
122,546.74
124,114.38
125,695.08
127,288.95
128,896.11
130,516.66
132,150.71
133,798.38
135,459.78
137,135.02
138,824.23
140,527.51
142,244.99
143,976.78
145,723.00
147,483.77
149,259.21
151,049.45
152,854.61
154,674.81
156,510.19

loan amortization
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201

6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08

4,737.42
4,721.99
4,706.44
4,690.76
4,674.95
4,659.01
4,642.93
4,626.72
4,610.38
4,593.90
4,577.28
4,560.52
4,543.63
4,526.59
4,509.41
4,492.09
4,474.62
4,457.01
4,439.25
4,421.34
4,403.29
4,385.08
4,366.72
4,348.21
4,329.55
4,310.72
4,291.75
4,272.61
4,253.31
4,233.86
4,214.24
4,194.46
4,174.51
4,154.40
4,134.12
4,113.67
4,093.05
4,072.26
4,051.29
4,030.15
4,008.83
3,987.34
3,965.67
3,943.81
3,921.78
3,899.56
3,877.15
3,854.56
3,831.78
3,808.82
3,785.65
3,762.30
3,738.75
3,715.01

816,675.05
821,397.04
826,103.48
830,794.25
835,469.20
840,128.21
844,771.14
849,397.86
854,008.24
858,602.14
863,179.42
867,739.94
872,283.56
876,810.15
881,319.56
885,811.65
890,286.27
894,743.28
899,182.53
903,603.88
908,007.16
912,392.24
916,758.97
921,107.18
925,436.72
929,747.45
934,039.19
938,311.80
942,565.12
946,798.97
951,013.21
955,207.67
959,382.18
963,536.58
967,670.70
971,784.36
975,877.41
979,949.67
984,000.96
988,031.11
992,039.94
996,027.28
999,992.95
###
###
###
###
###
###
###
###
###
###
###
Page 16

1,850.67
1,866.09
1,881.64
1,897.32
1,913.13
1,929.07
1,945.15
1,961.36
1,977.70
1,994.18
2,010.80
2,027.56
2,044.45
2,061.49
2,078.67
2,095.99
2,113.46
2,131.07
2,148.83
2,166.74
2,184.79
2,203.00
2,221.36
2,239.87
2,258.54
2,277.36
2,296.33
2,315.47
2,334.77
2,354.22
2,373.84
2,393.62
2,413.57
2,433.68
2,453.96
2,474.41
2,495.03
2,515.83
2,536.79
2,557.93
2,579.25
2,600.74
2,622.41
2,644.27
2,666.30
2,688.52
2,710.93
2,733.52
2,756.30
2,779.27
2,802.43
2,825.78
2,849.33
2,873.07

158,360.85
160,226.94
162,108.58
164,005.89
165,919.02
167,848.10
169,793.24
171,754.60
173,732.30
175,726.49
177,737.29
179,764.85
181,809.30
183,870.79
185,949.46
188,045.45
190,158.91
192,289.98
194,438.81
196,605.55
198,790.35
200,993.35
203,214.70
205,454.57
207,713.11
209,990.46
212,286.80
214,602.27
216,937.04
219,291.26
221,665.10
224,058.72
226,472.29
228,905.97
231,359.94
233,834.35
236,329.38
238,845.21
241,382.00
243,939.93
246,519.18
249,119.92
251,742.33
254,386.60
257,052.90
259,741.42
262,452.35
265,185.86
267,942.16
270,721.42
273,523.85
276,349.63
279,198.96
282,072.03

loan amortization
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245
246
247
248
249
250
251
252
253
254
255

6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08

3,691.07
3,666.92
3,642.58
3,618.04
3,593.29
3,568.33
3,543.16
3,517.79
3,492.20
3,466.41
3,440.39
3,414.16
3,387.71
3,361.04
3,334.15
3,307.03
3,279.69
3,252.12
3,224.32
3,196.29
3,168.03
3,139.53
3,110.79
3,081.81
3,052.59
3,023.13
2,993.42
2,963.46
2,933.26
2,902.80
2,872.09
2,841.13
2,809.90
2,778.42
2,746.67
2,714.66
2,682.38
2,649.83
2,617.01
2,583.92
2,550.55
2,516.91
2,482.98
2,448.77
2,414.28
2,379.49
2,344.42
2,309.06
2,273.40
2,237.45
2,201.19
2,164.63
2,127.77
2,090.60

###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
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Page 17

2,897.01
2,921.16
2,945.50
2,970.04
2,994.79
3,019.75
3,044.92
3,070.29
3,095.88
3,121.68
3,147.69
3,173.92
3,200.37
3,227.04
3,253.93
3,281.05
3,308.39
3,335.96
3,363.76
3,391.79
3,420.05
3,448.56
3,477.29
3,506.27
3,535.49
3,564.95
3,594.66
3,624.62
3,654.82
3,685.28
3,715.99
3,746.95
3,778.18
3,809.66
3,841.41
3,873.42
3,905.70
3,938.25
3,971.07
4,004.16
4,037.53
4,071.17
4,105.10
4,139.31
4,173.80
4,208.59
4,243.66
4,279.02
4,314.68
4,350.64
4,386.89
4,423.45
4,460.31
4,497.48

284,969.04
287,890.20
290,835.70
293,805.74
296,800.53
299,820.29
302,865.20
305,935.49
309,031.37
312,153.04
315,300.73
318,474.65
321,675.02
324,902.06
328,155.99
331,437.04
334,745.43
338,081.39
341,445.15
344,836.94
348,256.99
351,705.55
355,182.84
358,689.11
362,224.60
365,789.55
369,384.21
373,008.83
376,663.65
380,348.93
384,064.91
387,811.87
391,590.05
395,399.71
399,241.12
403,114.55
407,020.25
410,958.50
414,929.56
418,933.72
422,971.25
427,042.43
431,147.53
435,286.84
439,460.64
443,669.23
447,912.88
452,191.91
456,506.59
460,857.22
465,244.11
469,667.56
474,127.87
478,625.35

loan amortization
256
257
258
259
260
261
262
263
264
265
266
267
268
269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297
298
299
300

6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
6,588.08
-

2,053.12
2,015.33
1,977.22
1,938.80
1,900.06
1,860.99
1,821.60
1,781.88
1,741.83
1,701.44
1,660.72
1,619.66
1,578.25
1,536.50
1,494.41
1,451.96
1,409.16
1,366.00
1,322.48
1,278.60
1,234.36
1,189.74
1,144.76
1,099.40
1,053.66
1,007.54
961.03
914.14
866.86
819.18
771.11
722.63
673.75
624.47
574.77
524.66
474.13
423.18
371.81
320.01
267.77
215.10
161.99
108.44
54.45
-

###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
Page 18

4,534.96
4,572.75
4,610.86
4,649.28
4,688.02
4,727.09
4,766.48
4,806.20
4,846.26
4,886.64
4,927.36
4,968.42
5,009.83
5,051.58
5,093.67
5,136.12
5,178.92
5,222.08
5,265.60
5,309.48
5,353.72
5,398.34
5,443.32
5,488.68
5,534.42
5,580.54
5,627.05
5,673.94
5,721.22
5,768.90
5,816.97
5,865.45
5,914.33
5,963.61
6,013.31
6,063.42
6,113.95
6,164.90
6,216.27
6,268.07
6,320.31
6,372.98
6,426.09
6,479.64
6,533.63
-

483,160.31
487,733.06
492,343.91
496,993.19
501,681.22
506,408.31
511,174.79
515,980.99
520,827.25
525,713.89
530,641.25
535,609.68
540,619.50
545,671.08
550,764.75
555,900.87
561,079.79
566,301.87
571,567.47
576,876.94
582,230.67
587,629.00
593,072.32
598,561.01
604,095.43
609,675.97
615,303.02
620,976.96
626,698.18
632,467.08
638,284.05
644,149.50
650,063.82
656,027.44
662,040.75
668,104.17
674,218.11
680,383.01
686,599.28
692,867.36
699,187.67
705,560.64
711,986.73
718,466.37
725,000.00
-

loan amortization
-

Page 19

loan amortization

Balance
725,000
724,453.59
723,902.62
723,347.06
722,786.87
722,222.02
721,652.45
721,078.14
720,499.05
719,915.12
719,326.34
718,732.64
718,134.00
717,530.37
716,921.71
716,307.98
715,689.13
715,065.13
714,435.92
713,801.47
713,161.74
712,516.67
711,866.23
711,210.37
710,549.04
709,882.20
709,209.81
708,531.81
707,848.16
707,158.82
706,463.73
705,762.84
705,056.12
704,343.51
703,624.95
702,900.42
702,169.84
701,433.17
700,690.37
699,941.38

Yea
r

Total
Principal

1
2
3
4
5
6
7
8
9

6,866
7,585
8,379
9,257
10,226
11,297
12,480
13,786
15,230

10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30

16,825
18,587
20,533
22,683
25,058
27,682
30,581
33,783
37,320
41,228
45,545
50,315
55,583
61,403
67,833
74,936
0
0
0
0
0
725,000

Interest
Principal
that can
Total Interest that can be
be saved
saved in tax
in tax
72,191
0
72,191
71,472
0
71,472
70,678
0
70,678
69,800
0
69,800
68,831
0
68,831
67,760
0
67,760
66,577
0
66,577
65,271
0
65,271
63,700
0
63,700
62,092
60,316
58,353
56,185
53,790
51,144
48,222
44,993
41,426
37,485
33,132
28,742
23,474
17,654
11,224
4,121
0
0
0
0
0
1,248,632

Page 20

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

62,092
60,316
58,353
56,185
53,790
51,144
48,222
44,993
41,426
37,485
33,132
28,742
23,474
17,654
11,224
4,121
0
0
0
0
0
1,248,632

loan amortization
699,186.14
698,424.61
697,656.74
696,882.46
696,101.73
695,314.50
694,520.71
693,720.30
692,913.22
692,099.42
691,278.83
690,451.41
689,617.09
688,775.82
687,927.54
687,072.19
686,209.71
685,340.04
684,463.13
683,578.91
682,687.32
681,788.30
680,881.79
679,967.72
679,046.04
678,116.68
677,179.57
676,234.65
675,281.86
674,321.13
673,352.39
672,375.58
671,390.63
670,397.47
669,396.04
668,386.26
667,368.06
666,341.38
665,306.15
664,262.28
663,209.72
662,148.39
661,078.21
659,999.12
658,911.03
657,813.87
656,707.58
655,592.06
654,467.25
653,333.06
652,189.42
651,036.25
649,873.47
648,701.01
Page 21

loan amortization
647,518.77
646,326.68
645,124.65
643,912.61
642,690.47
641,458.14
640,215.55
638,962.60
637,699.20
636,425.28
635,140.75
633,845.51
632,539.47
631,222.55
629,894.66
628,555.70
627,205.59
625,844.22
624,471.51
623,087.36
621,691.67
620,284.35
618,865.31
617,434.44
615,991.65
614,536.83
613,069.89
611,590.72
610,099.23
608,595.31
607,078.86
605,549.77
604,007.94
602,453.26
600,885.62
599,304.92
597,711.05
596,103.89
594,483.34
592,849.29
591,201.62
589,540.22
587,864.98
586,175.77
584,472.49
582,755.01
581,023.22
579,277.00
577,516.23
575,740.79
573,950.55
572,145.39
570,325.19
568,489.81
Page 22

loan amortization
566,639.15
564,773.06
562,891.42
560,994.11
559,080.98
557,151.90
555,206.76
553,245.40
551,267.70
549,273.51
547,262.71
545,235.15
543,190.70
541,129.21
539,050.54
536,954.55
534,841.09
532,710.02
530,561.19
528,394.45
526,209.65
524,006.65
521,785.30
519,545.43
517,286.89
515,009.54
512,713.20
510,397.73
508,062.96
505,708.74
503,334.90
500,941.28
498,527.71
496,094.03
493,640.06
491,165.65
488,670.62
486,154.79
483,618.00
481,060.07
478,480.82
475,880.08
473,257.67
470,613.40
467,947.10
465,258.58
462,547.65
459,814.14
457,057.84
454,278.58
451,476.15
448,650.37
445,801.04
442,927.97
Page 23

loan amortization
440,030.96
437,109.80
434,164.30
431,194.26
428,199.47
425,179.71
422,134.80
419,064.51
415,968.63
412,846.96
409,699.27
406,525.35
403,324.98
400,097.94
396,844.01
393,562.96
390,254.57
386,918.61
383,554.85
380,163.06
376,743.01
373,294.45
369,817.16
366,310.89
362,775.40
359,210.45
355,615.79
351,991.17
348,336.35
344,651.07
340,935.09
337,188.13
333,409.95
329,600.29
325,758.88
321,885.45
317,979.75
314,041.50
310,070.44
306,066.28
302,028.75
297,957.57
293,852.47
289,713.16
285,539.36
281,330.77
277,087.12
272,808.09
268,493.41
264,142.78
259,755.89
255,332.44
250,872.13
246,374.65
Page 24

loan amortization
241,839.69
237,266.94
232,656.09
228,006.81
223,318.78
218,591.69
213,825.21
209,019.01
204,172.75
199,286.11
194,358.75
189,390.32
184,380.50
179,328.92
174,235.25
169,099.13
163,920.21
158,698.13
153,432.53
148,123.06
142,769.33
137,371.00
131,927.68
126,438.99
120,904.57
115,324.03
109,696.98
104,023.04
98,301.82
92,532.92
86,715.95
80,850.50
74,936.18
68,972.56
62,959.25
56,895.83
50,781.89
44,616.99
38,400.72
32,132.64
25,812.33
19,439.36
13,013.27
6,533.63
0.00
Page 25

loan amortization
-

Page 26

loan amortization
Total that
can be
saved in
Tax
72,191
71,472
70,678
69,800
68,831
67,760
66,577
65,271
63,700
62,092
60,316
58,353
56,185
53,790
51,144
48,222
44,993
41,426
37,485
33,132
28,742
23,474
17,654
11,224
4,121
0
0
0
0
0
1,248,632

Tax Saved Tax Saved

per annum per month

Tax
Saved

21,657
21,442
21,203
20,940
20,649
20,328
19,973
19,581
19,110

1,805
1,787
1,767
1,745
1,721
1,694
1,664
1,632
1,593

1,805
1,787
1,767
1,745
1,721
1,694
1,664
1,632
1,593

18,628
18,095
17,506
16,856
16,137
15,343
14,466
13,498
12,428
11,246
9,940
8,623
7,042
5,296
3,367
1,236
0
0
0
0
0
374,590

1,552
1,508
1,459
1,405
1,345
1,279
1,206
1,125
1,036
937
828
719
587
441
281
103
0
0
0
0
0
31,216

1,552
1,508
1,459
1,405
1,345
1,279
1,206
1,125
1,036
937
828
719
587
441
281
103
0
0
0
0
0
31,216

Page 27

loan amortization

Page 28

loan amortization

Page 29

loan amortization

Page 30

loan amortization

Page 31

loan amortization

Page 32

loan amortization

Page 33

loan amortization

Page 34

loan amortization

Page 35

loan amortization

Page 36

loan amortization

Page 37

loan amortization

Page 38

loan amortization

Page 39

loan amortization

Page 40

loan amortization

Page 41

loan amortization

Page 42

loan amortization

Page 43

loan amortization

Page 44

loan amortization

Page 45

loan amortization

Page 46

loan amortization

Page 47

loan amortization

Page 48

loan amortization

Page 49

loan amortization

Page 50

loan amortization

Page 51

loan amortization

Page 52

loan amortization

Page 53

loan amortization

Page 54

loan amortization

Page 55

loan amortization

Page 56

loan amortization

Page 57

loan amortization

Page 58

loan amortization

Page 59

loan amortization

Page 60

loan amortization

Page 61