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FIN 3433: Example Rental Proforma

Input Data Gross Monthly Rent 1,150.00 Mortgage LTV 80%
Purchase Price 115,000 Growth Rate in Rent 3.0% Term (Years) 30
Acquisition Costs 1000 Vacancy Rate 10.0% Rate 4.692%
Land Value (BCAD) 23870 Property Taxes 3,444.00 Points 1.5%
Going Out Cap Rate 5.50% Other Operating Exp 1380 Prepay Penalty (%) 0.0%
Selling Expense 6% Growth Rate in Exp 3.0% Equity Hurdle Rate 8.0%
Depreciation Period 27.5 Marginal Tax Bracket 28.0% Mortgage Amount 92,000
Initial Depr Basis 92130 Depn Recovery Rate 25% Monthly Pmt -477
Annual Depreciation 3350 Capital Gain Rate 15% Balance 60 Mo 84107
Prepay Penalty ($)
Before Tax Cash Flows by Year
0 1 2 3 4 5 6
Operations 1,876 2,103 2,338 2,580 2,829 3,085
Capital -24,000 66,393
Total CF -24,000 1,876 2,103 2,338 2,580 2,829 69,479
Before Tax IRR =
Before Tax NPV =
Debt Coverage Ratio
Cash on Cash Return

After Tax Cash Flows by Year
0 1 2 3 4 5 6
Operations 2,599 2,792 2,957 3,165 3,689 3,085
Capital -24,000 62,056
Total CF -24,000 2,599 2,792 2,957 3,165 3,689 65,141
After Tax IRR =
After Tax NPV = Going In Cap Rate 6.61%
Going Out Cap Rate 5.50%
Cash Flow From Operations 0 1 2 3 4 5 6
Gross Rent 13,800 14,214 14,640 15,080 15,532 15,998
- Vacancy (1,380) (1,421) (1,464) (1,508) (1,553) (1,600)
+ Other Income $0 $0 $0 $0 $0 $0
= Effective Gross Income 12,420 12,793 13,176 13,572 13,979 14,398
- Operating Expense (4,824) (4,969) (5,118) (5,271) (5,429) (5,592)
= Net Operating Income 7,596 7,824 8,059 8,300 8,549 8,806
- Mortgage Payment -5,720 -5,720 -5,720 -5,720 -5,720 -5,720
= Before Tax Cash Flow 1,876 2,103 2,338 2,580 2,829 3,085
- Taxes 723 689 619 585 860 0
= After Tax Cash Flow 2,599 2,792 2,957 3,165 3,689 3,085

Income Taxes From Operations 0 1 2 3 4 5 6
End of Year Loan Balance 92,000
NOI 7,596 7,824 8,059 8,300 8,549 8,806
- Interest Paid -4,286 -3,926 -3,567 -3,208 -2,850 -2,492
- Amortized Finance Costs -41 -41 -41 -41 -41 -1176
- Depreciation -3,350 -3,350 -3,350 -3,350 -3,350 -3,350
= Taxable Income -81 506 1,100 1,701 2,308 1,788
Taxes Due

Cash flow From Resale EOY 5 Gain on Sale
Estimated Sales Price 160,106 Net Sales Price 150,500
- Sales Expense 9,606 - Adjusted Basis 132,751
= Net Sales Price 150,500 = Gain on Sale 17,749
- Mortgage Payoff 84,107
= Before Tax Equity Reversion 66,393 Depn Recovery 16,751
- Taxes on Sale 4,337 Capital Gain 998
= After Tax Equity Reversion 62,056
DepRecTax 4,188
Cap Gain Tax 150
Total Tax on Sale 4,337
Mortgage Amortization
Inputs Key Figures
Loan principal amount ### Annual loan payments $10,791.96
Annual interest rate 6.000% Monthly payments $899.33
Loan period in years 30 Interest in first calendar year $4,488.72
Base year of loan 2008 Interest over term of loan $173,758.80
Base month of loan July Sum of all payments $323,758.80

Payments in First 12 Months
Beginnin Cumulati Cumulati
Ending
Year Month g Payment Principal Interest ve ve
Balance
Balance Principal Interest
Jul ### $899.33 $149.33 $750.00 $149.33 $750.00 $149,850.67
Aug ### $899.33 $150.08 $749.25 $299.41 $1,499.25 $149,700.59
Sep ### $899.33 $150.83 $748.50 $450.24 $2,247.75 $149,549.76
Oct ### $899.33 $151.58 $747.75 $601.82 $2,995.50 $149,398.18
Nov ### $899.33 $152.34 $746.99 $754.16 $3,742.49 $149,245.84
Dec ### $899.33 $153.10 $746.23 $907.26 $4,488.72 $149,092.74
### Jan ### $899.33 $153.87 $745.46 $1,061.13 $5,234.18 $148,938.87
Feb ### $899.33 $154.64 $744.69 $1,215.77 $5,978.87 $148,784.23
Mar ### $899.33 $155.41 $743.92 $1,371.18 $6,722.79 $148,628.82
Apr ### $899.33 $156.19 $743.14 $1,527.37 $7,465.93 $148,472.63
May ### $899.33 $156.97 $742.36 $1,684.34 $8,208.29 $148,315.66
Jun ### $899.33 $157.75 $741.58 $1,842.09 $8,949.87 $148,157.91

Yearly Schedule of Balances and Payments
Cumulati Cumulati
Beginning Ending
Year Payment Principal Interest ve ve
Balance Balance
Principal Interest
### ### ### $1,897.25 $8,894.71 $2,804.51 ### ###
### ### ### $2,015.05 $8,776.91 $4,819.56 ### ###
### ### ### $2,139.33 $8,652.63 $6,958.89 ### ###
### ### ### $2,271.28 $8,520.68 $9,230.17 ### ###
### ### ### $2,411.37 $8,380.59 ### ### ###
### ### ### $2,560.09 $8,231.87 ### ### ###
### ### ### $2,717.99 $8,073.97 ### ### ###
### ### ### $2,885.63 $7,906.33 ### ### ###
### ### ### $3,063.61 $7,728.35 ### ### ###
### ### ### $3,252.57 $7,539.39 ### ### ###
### ### ### $3,453.18 $7,338.78 ### ### ###
### ### ### $3,666.17 $7,125.79 ### ### ###
### ### ### $3,892.29 $6,899.67 ### ### ###
### ### ### $4,132.36 $6,659.60 ### ### ###
### ### ### $4,387.23 $6,404.73 ### ### ###
### ### ### $4,657.83 $6,134.13 ### ### ###
### $99,689.50 ### $4,945.11 $5,846.85 ### ### ###
### $94,744.39 ### $5,250.11 $5,541.85 ### ### ###
### $89,494.28 ### $5,573.93 $5,218.03 ### ### ###
### $83,920.35 ### $5,917.72 $4,874.24 ### ### ###
### $78,002.63 ### $6,282.71 $4,509.25 ### ### ###
### $71,719.92 ### $6,670.21 $4,121.75 ### ### ###
### $65,049.71 ### $7,081.62 $3,710.34 ### ### ###
### $57,968.09 ### $7,518.40 $3,273.56 ### ### ###
### $50,449.69 ### $7,982.11 $2,809.85 ### ### ###
### $42,467.58 ### $8,474.43 $2,317.53 ### ### ###
### $33,993.15 ### $8,997.12 $1,794.84 ### ### ###
### $24,996.03 ### $9,552.04 $1,239.92 ### ### ###
### $15,443.99 ### ### $650.77 ### ### $5,302.80
### $5,302.80 $5,395.98 $5,302.80 $93.18 ### ### $0.00
Loan Amortization Schedule

Enter values Loan summary
Loan amount 150,000.00 Scheduled payment #NAME?
Annual interest rate 6.00 % Scheduled number of payments #NAME?
Loan period in years 30 Actual number of payments #NAME?
Number of payments per year 12 Total early payments #NAME?
Start date of loan 12/1/2009 Total interest #NAME?
Optional extra payments -

Lender name:

P mt. P aym ent Begin ning Schedu led Extra To tal C umu lative
No . Date Balance Payment P ayment Paym ent Principal Interest Ending Balance In terest
### #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
### 2/1/2010 #NAME? 899.33 - 899.33 150.07 #NAME? 149,700.60 #NAME?
3 3/1/2010 149,700.60 899.33 - 899.33 150.82 748.50 149,549.78 #NAME?
4 4/1/2010 149,549.78 899.33 - 899.33 151.58 747.75 149,398.20 #NAME?
5 5/1/2010 149,398.20 899.33 - 899.33 152.33 746.99 149,245.87 #NAME?
6 6/1/2010 149,245.87 899.33 - 899.33 153.10 746.23 149,092.77 #NAME?
7 7/1/2010 149,092.77 899.33 - 899.33 153.86 745.46 148,938.91 #NAME?
8 8/1/2010 148,938.91 899.33 - 899.33 154.63 744.69 148,784.28 #NAME?
9 9/1/2010 148,784.28 899.33 - 899.33 155.40 743.92 148,628.87 #NAME?
10 10/1/2010 148,628.87 899.33 - 899.33 156.18 743.14 148,472.69 #NAME?
11 11/1/2010 148,472.69 899.33 - 899.33 156.96 742.36 148,315.73 #NAME?
12 12/1/2010 148,315.73 899.33 - 899.33 157.75 741.58 148,157.98 #NAME?
13 1/1/2011 148,157.98 899.33 - 899.33 158.54 740.79 147,999.45 #NAME?
14 2/1/2011 147,999.45 899.33 - 899.33 159.33 740.00 147,840.12 #NAME?
15 3/1/2011 147,840.12 899.33 - 899.33 160.13 739.20 147,679.99 #NAME?
16 4/1/2011 147,679.99 899.33 - 899.33 160.93 738.40 147,519.07 #NAME?
17 5/1/2011 147,519.07 899.33 - 899.33 161.73 737.60 147,357.34 #NAME?
18 6/1/2011 147,357.34 899.33 - 899.33 162.54 736.79 147,194.80 #NAME?
19 7/1/2011 147,194.80 899.33 - 899.33 163.35 735.97 147,031.45 #NAME?
20 8/1/2011 147,031.45 899.33 - 899.33 164.17 735.16 146,867.28 #NAME?
21 9/1/2011 146,867.28 899.33 - 899.33 164.99 734.34 146,702.29 #NAME?
22 10/1/2011 146,702.29 899.33 - 899.33 165.81 733.51 146,536.47 #NAME?
23 11/1/2011 146,536.47 899.33 - 899.33 166.64 732.68 146,369.83 #NAME?
24 12/1/2011 146,369.83 899.33 - 899.33 167.48 731.85 146,202.35 #NAME?
25 1/1/2012 146,202.35 899.33 - 899.33 168.31 731.01 146,034.04 #NAME?
26 2/1/2012 146,034.04 899.33 - 899.33 169.16 730.17 145,864.88 #NAME?
27 3/1/2012 145,864.88 899.33 - 899.33 170.00 729.32 145,694.88 #NAME?
28 4/1/2012 145,694.88 899.33 - 899.33 170.85 728.47 145,524.03 #NAME?
29 5/1/2012 145,524.03 899.33 - 899.33 171.71 727.62 145,352.33 #NAME?
30 6/1/2012 145,352.33 899.33 - 899.33 172.56 726.76 145,179.76 #NAME?
31 7/1/2012 145,179.76 899.33 - 899.33 173.43 725.90 145,006.33 #NAME?
32 8/1/2012 145,006.33 899.33 - 899.33 174.29 725.03 144,832.04 #NAME?
33 9/1/2012 144,832.04 899.33 - 899.33 175.17 724.16 144,656.87 #NAME?
34 10/1/2012 144,656.87 899.33 - 899.33 176.04 723.28 144,480.83 #NAME?
35 11/1/2012 144,480.83 899.33 - 899.33 176.92 722.40 144,303.91 #NAME?
36 12/1/2012 144,303.91 899.33 - 899.33 177.81 721.52 144,126.11 #NAME?
37 1/1/2013 144,126.11 899.33 - 899.33 178.70 720.63 143,947.41 #NAME?
38 2/1/2013 143,947.41 899.33 - 899.33 179.59 719.74 143,767.82 #NAME?
39 3/1/2013 143,767.82 899.33 - 899.33 180.49 718.84 143,587.33 #NAME?
40 4/1/2013 143,587.33 899.33 - 899.33 181.39 717.94 143,405.95 #NAME?
41 5/1/2013 143,405.95 899.33 - 899.33 182.30 717.03 143,223.65 #NAME?
42 6/1/2013 143,223.65 899.33 - 899.33 183.21 716.12 143,040.44 #NAME?
43 7/1/2013 143,040.44 899.33 - 899.33 184.12 715.20 142,856.32 #NAME?
44 8/1/2013 142,856.32 899.33 - 899.33 185.04 714.28 142,671.27 #NAME?
45 9/1/2013 142,671.27 899.33 - 899.33 185.97 713.36 142,485.30 #NAME?
46 10/1/2013 142,485.30 899.33 - 899.33 186.90 712.43 142,298.41 #NAME?
47 11/1/2013 142,298.41 899.33 - 899.33 187.83 711.49 142,110.57 #NAME?
48 12/1/2013 142,110.57 899.33 - 899.33 188.77 710.55 141,921.80 #NAME?
49 1/1/2014 141,921.80 899.33 - 899.33 189.72 709.61 141,732.08 #NAME?
50 2/1/2014 141,732.08 899.33 - 899.33 190.67 708.66 141,541.42 #NAME?
51 3/1/2014 141,541.42 899.33 - 899.33 191.62 707.71 141,349.80 #NAME?
52 4/1/2014 141,349.80 899.33 - 899.33 192.58 706.75 141,157.22 #NAME?
53 5/1/2014 141,157.22 899.33 - 899.33 193.54 705.79 140,963.68 #NAME?
54 6/1/2014 140,963.68 899.33 - 899.33 194.51 704.82 140,769.17 #NAME?
55 7/1/2014 140,769.17 899.33 - 899.33 195.48 703.85 140,573.69 #NAME?
56 8/1/2014 140,573.69 899.33 - 899.33 196.46 702.87 140,377.24 #NAME?
57 9/1/2014 140,377.24 899.33 - 899.33 197.44 701.89 140,179.80 #NAME?
58 10/1/2014 140,179.80 899.33 - 899.33 198.43 700.90 139,981.37 #NAME?
59 11/1/2014 139,981.37 899.33 - 899.33 199.42 699.91 139,781.95 #NAME?
60 12/1/2014 139,781.95 899.33 - 899.33 200.42 698.91 139,581.54 #NAME?
61 1/1/2015 139,581.54 899.33 - 899.33 201.42 697.91 139,380.12 #NAME?
62 2/1/2015 139,380.12 899.33 - 899.33 202.43 696.90 139,177.69 #NAME?
63 3/1/2015 139,177.69 899.33 - 899.33 203.44 695.89 138,974.25 #NAME?
64 4/1/2015 138,974.25 899.33 - 899.33 204.45 694.87 138,769.80 #NAME?
65 5/1/2015 138,769.80 #NAME? #NAME? #NAME? #NAME? 693.85 #NAME? #NAME?
### 6/1/2015 #NAME? 899.33 - 899.33 206.50 #NAME? 138,357.82 #NAME?
67 7/1/2015 138,357.82 899.33 - 899.33 207.54 691.79 138,150.28 #NAME?
68 8/1/2015 138,150.28 899.33 - 899.33 208.57 690.75 137,941.71 #NAME?
69 9/1/2015 137,941.71 899.33 - 899.33 209.62 689.71 137,732.09 #NAME?
70 10/1/2015 137,732.09 899.33 - 899.33 210.67 688.66 137,521.43 #NAME?
71 11/1/2015 137,521.43 899.33 - 899.33 211.72 687.61 137,309.71 #NAME?
72 12/1/2015 137,309.71 899.33 - 899.33 212.78 686.55 137,096.93 #NAME?
73 1/1/2016 137,096.93 899.33 - 899.33 213.84 685.48 136,883.09 #NAME?
74 2/1/2016 136,883.09 899.33 - 899.33 214.91 684.42 136,668.18 #NAME?
75 3/1/2016 136,668.18 899.33 - 899.33 215.98 683.34 136,452.19 #NAME?
76 4/1/2016 136,452.19 899.33 - 899.33 217.06 682.26 136,235.13 #NAME?
77 5/1/2016 136,235.13 899.33 - 899.33 218.15 681.18 136,016.98 #NAME?
78 6/1/2016 136,016.98 899.33 - 899.33 219.24 680.08 135,797.74 #NAME?
79 7/1/2016 135,797.74 899.33 - 899.33 220.34 678.99 135,577.40 #NAME?
80 8/1/2016 135,577.40 899.33 - 899.33 221.44 677.89 135,355.96 #NAME?
81 9/1/2016 135,355.96 899.33 - 899.33 222.55 676.78 135,133.42 #NAME?
82 10/1/2016 135,133.42 899.33 - 899.33 223.66 675.67 134,909.76 #NAME?
83 11/1/2016 134,909.76 899.33 - 899.33 224.78 674.55 134,684.98 #NAME?
84 12/1/2016 134,684.98 899.33 - 899.33 225.90 673.42 134,459.08 #NAME?
85 1/1/2017 134,459.08 899.33 - 899.33 227.03 672.30 134,232.05 #NAME?
86 2/1/2017 134,232.05 899.33 - 899.33 228.17 671.16 134,003.88 #NAME?
87 3/1/2017 134,003.88 899.33 - 899.33 229.31 670.02 133,774.58 #NAME?
88 4/1/2017 133,774.58 899.33 - 899.33 230.45 668.87 133,544.12 #NAME?
89 5/1/2017 133,544.12 899.33 - 899.33 231.61 667.72 133,312.52 #NAME?
90 6/1/2017 133,312.52 899.33 - 899.33 232.76 666.56 133,079.76 #NAME?
91 7/1/2017 133,079.76 899.33 - 899.33 233.93 665.40 132,845.83 #NAME?
92 8/1/2017 132,845.83 899.33 - 899.33 235.10 664.23 132,610.73 #NAME?
93 9/1/2017 132,610.73 899.33 - 899.33 236.27 663.05 132,374.46 #NAME?
94 10/1/2017 132,374.46 899.33 - 899.33 237.45 661.87 132,137.01 #NAME?
95 11/1/2017 132,137.01 899.33 - 899.33 238.64 660.69 131,898.37 #NAME?
96 12/1/2017 131,898.37 899.33 - 899.33 239.83 659.49 131,658.53 #NAME?
97 1/1/2018 131,658.53 899.33 - 899.33 241.03 658.29 131,417.50 #NAME?
98 2/1/2018 131,417.50 899.33 - 899.33 242.24 657.09 131,175.26 #NAME?
99 3/1/2018 131,175.26 899.33 - 899.33 243.45 655.88 130,931.81 #NAME?
100 4/1/2018 130,931.81 899.33 - 899.33 244.67 654.66 130,687.14 #NAME?
101 5/1/2018 130,687.14 899.33 - 899.33 245.89 653.44 130,441.25 #NAME?
102 6/1/2018 130,441.25 899.33 - 899.33 247.12 652.21 130,194.13 #NAME?
103 7/1/2018 130,194.13 899.33 - 899.33 248.36 650.97 129,945.78 #NAME?
104 8/1/2018 129,945.78 899.33 - 899.33 249.60 649.73 129,696.18 #NAME?
105 9/1/2018 129,696.18 899.33 - 899.33 250.84 648.48 129,445.34 #NAME?
106 10/1/2018 129,445.34 899.33 - 899.33 252.10 647.23 129,193.24 #NAME?
107 11/1/2018 129,193.24 899.33 - 899.33 253.36 645.97 128,939.88 #NAME?
108 12/1/2018 128,939.88 899.33 - 899.33 254.63 644.70 128,685.25 #NAME?
109 1/1/2019 128,685.25 899.33 - 899.33 255.90 643.43 128,429.35 #NAME?
110 2/1/2019 128,429.35 899.33 - 899.33 257.18 642.15 128,172.17 #NAME?
111 3/1/2019 128,172.17 899.33 - 899.33 258.46 640.86 127,913.71 #NAME?
112 4/1/2019 127,913.71 899.33 - 899.33 259.76 639.57 127,653.95 #NAME?
113 5/1/2019 127,653.95 899.33 - 899.33 261.06 638.27 127,392.90 #NAME?
114 6/1/2019 127,392.90 899.33 - 899.33 262.36 636.96 127,130.53 #NAME?
115 7/1/2019 127,130.53 899.33 - 899.33 263.67 635.65 126,866.86 #NAME?
116 8/1/2019 126,866.86 899.33 - 899.33 264.99 634.33 126,601.87 #NAME?
117 9/1/2019 126,601.87 899.33 - 899.33 266.32 633.01 126,335.55 #NAME?
118 10/1/2019 126,335.55 899.33 - 899.33 267.65 631.68 126,067.90 #NAME?
119 11/1/2019 126,067.90 899.33 - 899.33 268.99 630.34 125,798.92 #NAME?
120 12/1/2019 125,798.92 899.33 - 899.33 270.33 628.99 125,528.59 #NAME?
121 1/1/2020 125,528.59 899.33 - 899.33 271.68 627.64 125,256.90 #NAME?
122 2/1/2020 125,256.90 899.33 - 899.33 273.04 626.28 124,983.86 #NAME?
123 3/1/2020 124,983.86 899.33 - 899.33 274.41 624.92 124,709.46 #NAME?
124 4/1/2020 124,709.46 899.33 - 899.33 275.78 623.55 124,433.68 #NAME?
125 5/1/2020 124,433.68 899.33 - 899.33 277.16 622.17 124,156.52 #NAME?
126 6/1/2020 124,156.52 899.33 - 899.33 278.54 620.78 123,877.98 #NAME?
127 7/1/2020 123,877.98 899.33 - 899.33 279.94 619.39 123,598.04 #NAME?
128 8/1/2020 123,598.04 899.33 - 899.33 281.34 617.99 123,316.71 #NAME?
129 9/1/2020 123,316.71 #NAME? #NAME? #NAME? #NAME? 616.58 #NAME? #NAME?
### 10/1/2020 #NAME? 899.33 - 899.33 284.16 #NAME? 122,749.81 #NAME?
131 11/1/2020 122,749.81 899.33 - 899.33 285.58 613.75 122,464.23 #NAME?
132 12/1/2020 122,464.23 899.33 - 899.33 287.00 612.32 122,177.23 #NAME?
133 1/1/2021 122,177.23 899.33 - 899.33 288.44 610.89 121,888.79 #NAME?
134 2/1/2021 121,888.79 899.33 - 899.33 289.88 609.44 121,598.91 #NAME?
135 3/1/2021 121,598.91 899.33 - 899.33 291.33 607.99 121,307.57 #NAME?
136 4/1/2021 121,307.57 899.33 - 899.33 292.79 606.54 121,014.79 #NAME?
137 5/1/2021 121,014.79 899.33 - 899.33 294.25 605.07 120,720.53 #NAME?
138 6/1/2021 120,720.53 899.33 - 899.33 295.72 603.60 120,424.81 #NAME?
139 7/1/2021 120,424.81 899.33 - 899.33 297.20 602.12 120,127.61 #NAME?
140 8/1/2021 120,127.61 899.33 - 899.33 298.69 600.64 119,828.92 #NAME?
141 9/1/2021 119,828.92 899.33 - 899.33 300.18 599.14 119,528.74 #NAME?
142 10/1/2021 119,528.74 899.33 - 899.33 301.68 597.64 119,227.06 #NAME?
143 11/1/2021 119,227.06 899.33 - 899.33 303.19 596.14 118,923.87 #NAME?
144 12/1/2021 118,923.87 899.33 - 899.33 304.71 594.62 118,619.16 #NAME?
145 1/1/2022 118,619.16 899.33 - 899.33 306.23 593.10 118,312.93 #NAME?
146 2/1/2022 118,312.93 899.33 - 899.33 307.76 591.56 118,005.17 #NAME?
147 3/1/2022 118,005.17 899.33 - 899.33 309.30 590.03 117,695.87 #NAME?
148 4/1/2022 117,695.87 899.33 - 899.33 310.85 588.48 117,385.02 #NAME?
149 5/1/2022 117,385.02 899.33 - 899.33 312.40 586.93 117,072.62 #NAME?
150 6/1/2022 117,072.62 899.33 - 899.33 313.96 585.36 116,758.66 #NAME?
151 7/1/2022 116,758.66 899.33 - 899.33 315.53 583.79 116,443.13 #NAME?
152 8/1/2022 116,443.13 899.33 - 899.33 317.11 582.22 116,126.02 #NAME?
153 9/1/2022 116,126.02 899.33 - 899.33 318.70 580.63 115,807.32 #NAME?
154 10/1/2022 115,807.32 899.33 - 899.33 320.29 579.04 115,487.03 #NAME?
155 11/1/2022 115,487.03 899.33 - 899.33 321.89 577.44 115,165.14 #NAME?
156 12/1/2022 115,165.14 899.33 - 899.33 323.50 575.83 114,841.64 #NAME?
157 1/1/2023 114,841.64 899.33 - 899.33 325.12 574.21 114,516.52 #NAME?
158 2/1/2023 114,516.52 899.33 - 899.33 326.74 572.58 114,189.78 #NAME?
159 3/1/2023 114,189.78 899.33 - 899.33 328.38 570.95 113,861.40 #NAME?
160 4/1/2023 113,861.40 899.33 - 899.33 330.02 569.31 113,531.39 #NAME?
161 5/1/2023 113,531.39 899.33 - 899.33 331.67 567.66 113,199.72 #NAME?
162 6/1/2023 113,199.72 899.33 - 899.33 333.33 566.00 112,866.39 #NAME?
163 7/1/2023 112,866.39 899.33 - 899.33 334.99 564.33 112,531.40 #NAME?
164 8/1/2023 112,531.40 899.33 - 899.33 336.67 562.66 112,194.73 #NAME?
165 9/1/2023 112,194.73 899.33 - 899.33 338.35 560.97 111,856.38 #NAME?
166 10/1/2023 111,856.38 899.33 - 899.33 340.04 559.28 111,516.33 #NAME?
167 11/1/2023 111,516.33 899.33 - 899.33 341.74 557.58 111,174.59 #NAME?
168 12/1/2023 111,174.59 899.33 - 899.33 343.45 555.87 110,831.13 #NAME?
169 1/1/2024 110,831.13 899.33 - 899.33 345.17 554.16 110,485.96 #NAME?
170 2/1/2024 110,485.96 899.33 - 899.33 346.90 552.43 110,139.07 #NAME?
171 3/1/2024 110,139.07 899.33 - 899.33 348.63 550.70 109,790.44 #NAME?
172 4/1/2024 109,790.44 899.33 - 899.33 350.37 548.95 109,440.06 #NAME?
173 5/1/2024 109,440.06 899.33 - 899.33 352.13 547.20 109,087.94 #NAME?
174 6/1/2024 109,087.94 899.33 - 899.33 353.89 545.44 108,734.05 #NAME?
175 7/1/2024 108,734.05 899.33 - 899.33 355.66 543.67 108,378.40 #NAME?
176 8/1/2024 108,378.40 899.33 - 899.33 357.43 541.89 108,020.96 #NAME?
177 9/1/2024 108,020.96 899.33 - 899.33 359.22 540.10 107,661.74 #NAME?
178 10/1/2024 107,661.74 899.33 - 899.33 361.02 538.31 107,300.73 #NAME?
179 11/1/2024 107,300.73 899.33 - 899.33 362.82 536.50 106,937.90 #NAME?
180 12/1/2024 106,937.90 899.33 - 899.33 364.64 534.69 106,573.27 #NAME?
181 1/1/2025 106,573.27 899.33 - 899.33 366.46 532.87 106,206.81 #NAME?
182 2/1/2025 106,206.81 899.33 - 899.33 368.29 531.03 105,838.52 #NAME?
183 3/1/2025 105,838.52 899.33 - 899.33 370.13 529.19 105,468.38 #NAME?
184 4/1/2025 105,468.38 899.33 - 899.33 371.98 527.34 105,096.40 #NAME?
185 5/1/2025 105,096.40 899.33 - 899.33 373.84 525.48 104,722.55 #NAME?
186 6/1/2025 104,722.55 899.33 - 899.33 375.71 523.61 104,346.84 #NAME?
187 7/1/2025 104,346.84 899.33 - 899.33 377.59 521.73 103,969.25 #NAME?
188 8/1/2025 103,969.25 899.33 - 899.33 379.48 519.85 103,589.77 #NAME?
189 9/1/2025 103,589.77 899.33 - 899.33 381.38 517.95 103,208.39 #NAME?
190 10/1/2025 103,208.39 899.33 - 899.33 383.28 516.04 102,825.11 #NAME?
191 11/1/2025 102,825.11 899.33 - 899.33 385.20 514.13 102,439.91 #NAME?
192 12/1/2025 102,439.91 899.33 - 899.33 387.13 512.20 102,052.78 #NAME?
193 1/1/2026 102,052.78 #NAME? #NAME? #NAME? #NAME? 510.26 #NAME? #NAME?
### 2/1/2026 #NAME? 899.33 - 899.33 391.01 #NAME? 101,272.71 #NAME?
195 3/1/2026 101,272.71 899.33 - 899.33 392.96 506.36 100,879.75 #NAME?
196 4/1/2026 100,879.75 899.33 - 899.33 394.93 504.40 100,484.82 #NAME?
197 5/1/2026 100,484.82 899.33 - 899.33 396.90 502.42 100,087.92 #NAME?
198 6/1/2026 100,087.92 899.33 - 899.33 398.89 500.44 99,689.04 #NAME?
199 7/1/2026 99,689.04 899.33 - 899.33 400.88 498.45 99,288.16 #NAME?
200 8/1/2026 99,288.16 899.33 - 899.33 402.89 496.44 98,885.27 #NAME?
201 9/1/2026 98,885.27 899.33 - 899.33 404.90 494.43 98,480.37 #NAME?
202 10/1/2026 98,480.37 899.33 - 899.33 406.92 492.40 98,073.45 #NAME?
203 11/1/2026 98,073.45 899.33 - 899.33 408.96 490.37 97,664.49 #NAME?
204 12/1/2026 97,664.49 899.33 - 899.33 411.00 488.32 97,253.49 #NAME?
205 1/1/2027 97,253.49 899.33 - 899.33 413.06 486.27 96,840.43 #NAME?
206 2/1/2027 96,840.43 899.33 - 899.33 415.12 484.20 96,425.30 #NAME?
207 3/1/2027 96,425.30 899.33 - 899.33 417.20 482.13 96,008.10 #NAME?
208 4/1/2027 96,008.10 899.33 - 899.33 419.29 480.04 95,588.82 #NAME?
209 5/1/2027 95,588.82 899.33 - 899.33 421.38 477.94 95,167.44 #NAME?
210 6/1/2027 95,167.44 899.33 - 899.33 423.49 475.84 94,743.95 #NAME?
211 7/1/2027 94,743.95 899.33 - 899.33 425.61 473.72 94,318.34 #NAME?
212 8/1/2027 94,318.34 899.33 - 899.33 427.73 471.59 93,890.61 #NAME?
213 9/1/2027 93,890.61 899.33 - 899.33 429.87 469.45 93,460.74 #NAME?
214 10/1/2027 93,460.74 899.33 - 899.33 432.02 467.30 93,028.71 #NAME?
215 11/1/2027 93,028.71 899.33 - 899.33 434.18 465.14 92,594.53 #NAME?
216 12/1/2027 92,594.53 899.33 - 899.33 436.35 462.97 92,158.18 #NAME?
217 1/1/2028 92,158.18 899.33 - 899.33 438.53 460.79 91,719.64 #NAME?
218 2/1/2028 91,719.64 899.33 - 899.33 440.73 458.60 91,278.92 #NAME?
219 3/1/2028 91,278.92 899.33 - 899.33 442.93 456.39 90,835.99 #NAME?
220 4/1/2028 90,835.99 899.33 - 899.33 445.15 454.18 90,390.84 #NAME?
221 5/1/2028 90,390.84 899.33 - 899.33 447.37 451.95 89,943.47 #NAME?
222 6/1/2028 89,943.47 899.33 - 899.33 449.61 449.72 89,493.86 #NAME?
223 7/1/2028 89,493.86 899.33 - 899.33 451.86 447.47 89,042.00 #NAME?
224 8/1/2028 89,042.00 899.33 - 899.33 454.12 445.21 88,587.89 #NAME?
225 9/1/2028 88,587.89 899.33 - 899.33 456.39 442.94 88,131.50 #NAME?
226 10/1/2028 88,131.50 899.33 - 899.33 458.67 440.66 87,672.83 #NAME?
227 11/1/2028 87,672.83 899.33 - 899.33 460.96 438.36 87,211.87 #NAME?
228 12/1/2028 87,211.87 899.33 - 899.33 463.27 436.06 86,748.60 #NAME?
229 1/1/2029 86,748.60 899.33 - 899.33 465.58 433.74 86,283.02 #NAME?
230 2/1/2029 86,283.02 899.33 - 899.33 467.91 431.42 85,815.11 #NAME?
231 3/1/2029 85,815.11 899.33 - 899.33 470.25 429.08 85,344.86 #NAME?
232 4/1/2029 85,344.86 899.33 - 899.33 472.60 426.72 84,872.26 #NAME?
233 5/1/2029 84,872.26 899.33 - 899.33 474.96 424.36 84,397.29 #NAME?
234 6/1/2029 84,397.29 899.33 - 899.33 477.34 421.99 83,919.96 #NAME?
235 7/1/2029 83,919.96 899.33 - 899.33 479.73 419.60 83,440.23 #NAME?
236 8/1/2029 83,440.23 899.33 - 899.33 482.12 417.20 82,958.10 #NAME?
237 9/1/2029 82,958.10 899.33 - 899.33 484.54 414.79 82,473.57 #NAME?
238 10/1/2029 82,473.57 899.33 - 899.33 486.96 412.37 81,986.61 #NAME?
239 11/1/2029 81,986.61 899.33 - 899.33 489.39 409.93 81,497.22 #NAME?
240 12/1/2029 81,497.22 899.33 - 899.33 491.84 407.49 81,005.38 #NAME?
241 1/1/2030 81,005.38 899.33 - 899.33 494.30 405.03 80,511.08 #NAME?
242 2/1/2030 80,511.08 899.33 - 899.33 496.77 402.56 80,014.31 #NAME?
243 3/1/2030 80,014.31 899.33 - 899.33 499.25 400.07 79,515.06 #NAME?
244 4/1/2030 79,515.06 899.33 - 899.33 501.75 397.58 79,013.31 #NAME?
245 5/1/2030 79,013.31 899.33 - 899.33 504.26 395.07 78,509.05 #NAME?
246 6/1/2030 78,509.05 899.33 - 899.33 506.78 392.55 78,002.27 #NAME?
247 7/1/2030 78,002.27 899.33 - 899.33 509.31 390.01 77,492.95 #NAME?
248 8/1/2030 77,492.95 899.33 - 899.33 511.86 387.46 76,981.09 #NAME?
249 9/1/2030 76,981.09 899.33 - 899.33 514.42 384.91 76,466.67 #NAME?
250 10/1/2030 76,466.67 899.33 - 899.33 516.99 382.33 75,949.68 #NAME?
251 11/1/2030 75,949.68 899.33 - 899.33 519.58 379.75 75,430.10 #NAME?
252 12/1/2030 75,430.10 899.33 - 899.33 522.18 377.15 74,907.92 #NAME?
253 1/1/2031 74,907.92 899.33 - 899.33 524.79 374.54 74,383.14 #NAME?
254 2/1/2031 74,383.14 899.33 - 899.33 527.41 371.92 73,855.73 #NAME?
255 3/1/2031 73,855.73 899.33 - 899.33 530.05 369.28 73,325.68 #NAME?
256 4/1/2031 73,325.68 899.33 - 899.33 532.70 366.63 72,792.98 #NAME?
257 5/1/2031 72,792.98 #NAME? #NAME? #NAME? #NAME? 363.96 #NAME? #NAME?
### 6/1/2031 #NAME? 899.33 - 899.33 538.04 #NAME? 71,719.59 #NAME?
259 7/1/2031 71,719.59 899.33 - 899.33 540.73 358.60 71,178.86 #NAME?
260 8/1/2031 71,178.86 899.33 - 899.33 543.43 355.89 70,635.43 #NAME?
261 9/1/2031 70,635.43 899.33 - 899.33 546.15 353.18 70,089.28 #NAME?
262 10/1/2031 70,089.28 899.33 - 899.33 548.88 350.45 69,540.40 #NAME?
263 11/1/2031 69,540.40 899.33 - 899.33 551.62 347.70 68,988.77 #NAME?
264 12/1/2031 68,988.77 899.33 - 899.33 554.38 344.94 68,434.39 #NAME?
265 1/1/2032 68,434.39 899.33 - 899.33 557.15 342.17 67,877.24 #NAME?
266 2/1/2032 67,877.24 899.33 - 899.33 559.94 339.39 67,317.30 #NAME?
267 3/1/2032 67,317.30 899.33 - 899.33 562.74 336.59 66,754.56 #NAME?
268 4/1/2032 66,754.56 899.33 - 899.33 565.55 333.77 66,189.01 #NAME?
269 5/1/2032 66,189.01 899.33 - 899.33 568.38 330.95 65,620.63 #NAME?
270 6/1/2032 65,620.63 899.33 - 899.33 571.22 328.10 65,049.40 #NAME?
271 7/1/2032 65,049.40 899.33 - 899.33 574.08 325.25 64,475.32 #NAME?
272 8/1/2032 64,475.32 899.33 - 899.33 576.95 322.38 63,898.38 #NAME?
273 9/1/2032 63,898.38 899.33 - 899.33 579.83 319.49 63,318.54 #NAME?
274 10/1/2032 63,318.54 899.33 - 899.33 582.73 316.59 62,735.81 #NAME?
275 11/1/2032 62,735.81 899.33 - 899.33 585.65 313.68 62,150.16 #NAME?
276 12/1/2032 62,150.16 899.33 - 899.33 588.57 310.75 61,561.59 #NAME?
277 1/1/2033 61,561.59 899.33 - 899.33 591.52 307.81 60,970.07 #NAME?
278 2/1/2033 60,970.07 899.33 - 899.33 594.48 304.85 60,375.59 #NAME?
279 3/1/2033 60,375.59 899.33 - 899.33 597.45 301.88 59,778.15 #NAME?
280 4/1/2033 59,778.15 899.33 - 899.33 600.44 298.89 59,177.71 #NAME?
281 5/1/2033 59,177.71 899.33 - 899.33 603.44 295.89 58,574.27 #NAME?
282 6/1/2033 58,574.27 899.33 - 899.33 606.45 292.87 57,967.82 #NAME?
283 7/1/2033 57,967.82 899.33 - 899.33 609.49 289.84 57,358.33 #NAME?
284 8/1/2033 57,358.33 899.33 - 899.33 612.53 286.79 56,745.80 #NAME?
285 9/1/2033 56,745.80 899.33 - 899.33 615.60 283.73 56,130.20 #NAME?
286 10/1/2033 56,130.20 899.33 - 899.33 618.67 280.65 55,511.53 #NAME?
287 11/1/2033 55,511.53 899.33 - 899.33 621.77 277.56 54,889.76 #NAME?
288 12/1/2033 54,889.76 899.33 - 899.33 624.88 274.45 54,264.88 #NAME?
289 1/1/2034 54,264.88 899.33 - 899.33 628.00 271.32 53,636.88 #NAME?
290 2/1/2034 53,636.88 899.33 - 899.33 631.14 268.18 53,005.74 #NAME?
291 3/1/2034 53,005.74 899.33 - 899.33 634.30 265.03 52,371.44 #NAME?
292 4/1/2034 52,371.44 899.33 - 899.33 637.47 261.86 51,733.97 #NAME?
293 5/1/2034 51,733.97 899.33 - 899.33 640.66 258.67 51,093.32 #NAME?
294 6/1/2034 51,093.32 899.33 - 899.33 643.86 255.47 50,449.46 #NAME?
295 7/1/2034 50,449.46 899.33 - 899.33 647.08 252.25 49,802.38 #NAME?
296 8/1/2034 49,802.38 899.33 - 899.33 650.31 249.01 49,152.06 #NAME?
297 9/1/2034 49,152.06 899.33 - 899.33 653.57 245.76 48,498.50 #NAME?
298 10/1/2034 48,498.50 899.33 - 899.33 656.83 242.49 47,841.67 #NAME?
299 11/1/2034 47,841.67 899.33 - 899.33 660.12 239.21 47,181.55 #NAME?
300 12/1/2034 47,181.55 899.33 - 899.33 663.42 235.91 46,518.13 #NAME?
301 1/1/2035 46,518.13 899.33 - 899.33 666.74 232.59 45,851.40 #NAME?
302 2/1/2035 45,851.40 899.33 - 899.33 670.07 229.26 45,181.33 #NAME?
303 3/1/2035 45,181.33 899.33 - 899.33 673.42 225.91 44,507.91 #NAME?
304 4/1/2035 44,507.91 899.33 - 899.33 676.79 222.54 43,831.12 #NAME?
305 5/1/2035 43,831.12 899.33 - 899.33 680.17 219.16 43,150.95 #NAME?
306 6/1/2035 43,150.95 899.33 - 899.33 683.57 215.75 42,467.38 #NAME?
307 7/1/2035 42,467.38 899.33 - 899.33 686.99 212.34 41,780.39 #NAME?
308 8/1/2035 41,780.39 899.33 - 899.33 690.42 208.90 41,089.97 #NAME?
309 9/1/2035 41,089.97 899.33 - 899.33 693.88 205.45 40,396.09 #NAME?
310 10/1/2035 40,396.09 899.33 - 899.33 697.35 201.98 39,698.75 #NAME?
311 11/1/2035 39,698.75 899.33 - 899.33 700.83 198.49 38,997.91 #NAME?
312 12/1/2035 38,997.91 899.33 - 899.33 704.34 194.99 38,293.58 #NAME?
313 1/1/2036 38,293.58 899.33 - 899.33 707.86 191.47 37,585.72 #NAME?
314 2/1/2036 37,585.72 899.33 - 899.33 711.40 187.93 36,874.32 #NAME?
315 3/1/2036 36,874.32 899.33 - 899.33 714.95 184.37 36,159.37 #NAME?
316 4/1/2036 36,159.37 899.33 - 899.33 718.53 180.80 35,440.84 #NAME?
317 5/1/2036 35,440.84 899.33 - 899.33 722.12 177.20 34,718.72 #NAME?
318 6/1/2036 34,718.72 899.33 - 899.33 725.73 173.59 33,992.99 #NAME?
319 7/1/2036 33,992.99 899.33 - 899.33 729.36 169.96 33,263.62 #NAME?
320 8/1/2036 33,263.62 899.33 - 899.33 733.01 166.32 32,530.62 #NAME?
321 9/1/2036 32,530.62 #NAME? #NAME? #NAME? #NAME? 162.65 #NAME? #NAME?
### 10/1/2036 #NAME? 899.33 - 899.33 740.36 #NAME? 31,053.59 #NAME?
323 11/1/2036 31,053.59 899.33 - 899.33 744.06 155.27 30,309.53 #NAME?
324 12/1/2036 30,309.53 899.33 - 899.33 747.78 151.55 29,561.75 #NAME?
325 1/1/2037 29,561.75 899.33 - 899.33 751.52 147.81 28,810.24 #NAME?
326 2/1/2037 28,810.24 899.33 - 899.33 755.27 144.05 28,054.96 #NAME?
327 3/1/2037 28,054.96 899.33 - 899.33 759.05 140.27 27,295.91 #NAME?
328 4/1/2037 27,295.91 899.33 - 899.33 762.85 136.48 26,533.06 #NAME?
329 5/1/2037 26,533.06 899.33 - 899.33 766.66 132.67 25,766.40 #NAME?
330 6/1/2037 25,766.40 899.33 - 899.33 770.49 128.83 24,995.91 #NAME?
331 7/1/2037 24,995.91 899.33 - 899.33 774.35 124.98 24,221.56 #NAME?
332 8/1/2037 24,221.56 899.33 - 899.33 778.22 121.11 23,443.35 #NAME?
333 9/1/2037 23,443.35 899.33 - 899.33 782.11 117.22 22,661.24 #NAME?
334 10/1/2037 22,661.24 899.33 - 899.33 786.02 113.31 21,875.22 #NAME?
335 11/1/2037 21,875.22 899.33 - 899.33 789.95 109.38 21,085.27 #NAME?
336 12/1/2037 21,085.27 899.33 - 899.33 793.90 105.43 20,291.37 #NAME?
337 1/1/2038 20,291.37 899.33 - 899.33 797.87 101.46 19,493.50 #NAME?
338 2/1/2038 19,493.50 899.33 - 899.33 801.86 97.47 18,691.64 #NAME?
339 3/1/2038 18,691.64 899.33 - 899.33 805.87 93.46 17,885.77 #NAME?
340 4/1/2038 17,885.77 899.33 - 899.33 809.90 89.43 17,075.88 #NAME?
341 5/1/2038 17,075.88 899.33 - 899.33 813.95 85.38 16,261.93 #NAME?
342 6/1/2038 16,261.93 899.33 - 899.33 818.02 81.31 15,443.91 #NAME?
343 7/1/2038 15,443.91 899.33 - 899.33 822.11 77.22 14,621.81 #NAME?
344 8/1/2038 14,621.81 899.33 - 899.33 826.22 73.11 13,795.59 #NAME?
345 9/1/2038 13,795.59 899.33 - 899.33 830.35 68.98 12,965.24 #NAME?
346 10/1/2038 12,965.24 899.33 - 899.33 834.50 64.83 12,130.74 #NAME?
347 11/1/2038 12,130.74 899.33 - 899.33 838.67 60.65 11,292.07 #NAME?
348 12/1/2038 11,292.07 899.33 - 899.33 842.87 56.46 10,449.21 #NAME?
349 1/1/2039 10,449.21 899.33 - 899.33 847.08 52.25 9,602.13 #NAME?
350 2/1/2039 9,602.13 899.33 - 899.33 851.32 48.01 8,750.81 #NAME?
351 3/1/2039 8,750.81 899.33 - 899.33 855.57 43.75 7,895.24 #NAME?
352 4/1/2039 7,895.24 899.33 - 899.33 859.85 39.48 7,035.39 #NAME?
353 5/1/2039 7,035.39 899.33 - 899.33 864.15 35.18 6,171.24 #NAME?
354 6/1/2039 6,171.24 899.33 - 899.33 868.47 30.86 5,302.77 #NAME?
355 7/1/2039 5,302.77 899.33 - 899.33 872.81 26.51 4,429.96 #NAME?
356 8/1/2039 4,429.96 899.33 - 899.33 877.18 22.15 3,552.78 #NAME?
357 9/1/2039 3,552.78 899.33 - 899.33 881.56 17.76 2,671.22 #NAME?
358 10/1/2039 2,671.22 899.33 - 899.33 885.97 13.36 1,785.25 #NAME?
359 11/1/2039 1,785.25 899.33 - 899.33 890.40 8.93 894.85 #NAME?
360 12/1/2039 894.85 899.33 - 894.85 890.38 4.47 - #NAME?
361 1/1/2040 - 899.33 - - - - - #NAME?
362 2/1/2040 - 899.33 - - - - - #NAME?
363 3/1/2040 - 899.33 - - - - - #NAME?
364 4/1/2040 - 899.33 - - - - - #NAME?
365 5/1/2040 - 899.33 - - - - - #NAME?
366 6/1/2040 - 899.33 - - - - - #NAME?
367 7/1/2040 - 899.33 - - - - - #NAME?
368 8/1/2040 - 899.33 - - - - - #NAME?
369 9/1/2040 - 899.33 - - - - - #NAME?
370 10/1/2040 - 899.33 - - - - - #NAME?
371 11/1/2040 - 899.33 - - - - - #NAME?
372 12/1/2040 - 899.33 - - - - - #NAME?
373 1/1/2041 - 899.33 - - - - - #NAME?
374 2/1/2041 - 899.33 - - - - - #NAME?
375 3/1/2041 - 899.33 - - - - - #NAME?
376 4/1/2041 - 899.33 - - - - - #NAME?
377 5/1/2041 - 899.33 - - - - - #NAME?
378 6/1/2041 - 899.33 - - - - - #NAME?
379 7/1/2041 - 899.33 - - - - - #NAME?
380 8/1/2041 - 899.33 - - - - - #NAME?
381 9/1/2041 - 899.33 - - - - - #NAME?
382 10/1/2041 - 899.33 - - - - - #NAME?
383 11/1/2041 - 899.33 - - - - - #NAME?
384 12/1/2041 - 899.33 - - - - - #NAME?
385 1/1/2042 - #NAME? #NAME? #NAME? #NAME? - #NAME? #NAME?
### 2/1/2042 #NAME? 899.33 - - - #NAME? - #NAME?
387 3/1/2042 - 899.33 - - - - - #NAME?
388 4/1/2042 - 899.33 - - - - - #NAME?
389 5/1/2042 - 899.33 - - - - - #NAME?
390 6/1/2042 - 899.33 - - - - - #NAME?
391 7/1/2042 - 899.33 - - - - - #NAME?
392 8/1/2042 - 899.33 - - - - - #NAME?
393 9/1/2042 - 899.33 - - - - - #NAME?
394 10/1/2042 - 899.33 - - - - - #NAME?
395 11/1/2042 - 899.33 - - - - - #NAME?
396 12/1/2042 - 899.33 - - - - - #NAME?
397 1/1/2043 - 899.33 - - - - - #NAME?
398 2/1/2043 - 899.33 - - - - - #NAME?
399 3/1/2043 - 899.33 - - - - - #NAME?
400 4/1/2043 - 899.33 - - - - - #NAME?
401 5/1/2043 - 899.33 - - - - - #NAME?
402 6/1/2043 - 899.33 - - - - - #NAME?
403 7/1/2043 - 899.33 - - - - - #NAME?
404 8/1/2043 - 899.33 - - - - - #NAME?
405 9/1/2043 - 899.33 - - - - - #NAME?
406 10/1/2043 - 899.33 - - - - - #NAME?
407 11/1/2043 - 899.33 - - - - - #NAME?
408 12/1/2043 - 899.33 - - - - - #NAME?
409 1/1/2044 - 899.33 - - - - - #NAME?
410 2/1/2044 - 899.33 - - - - - #NAME?
411 3/1/2044 - 899.33 - - - - - #NAME?
412 4/1/2044 - 899.33 - - - - - #NAME?
413 5/1/2044 - 899.33 - - - - - #NAME?
414 6/1/2044 - 899.33 - - - - - #NAME?
415 7/1/2044 - 899.33 - - - - - #NAME?
416 8/1/2044 - 899.33 - - - - - #NAME?
417 9/1/2044 - 899.33 - - - - - #NAME?
418 10/1/2044 - 899.33 - - - - - #NAME?
419 11/1/2044 - 899.33 - - - - - #NAME?
420 12/1/2044 - 899.33 - - - - - #NAME?
421 1/1/2045 - 899.33 - - - - - #NAME?
422 2/1/2045 - 899.33 - - - - - #NAME?
423 3/1/2045 - 899.33 - - - - - #NAME?
424 4/1/2045 - 899.33 - - - - - #NAME?
425 5/1/2045 - 899.33 - - - - - #NAME?
426 6/1/2045 - 899.33 - - - - - #NAME?
427 7/1/2045 - 899.33 - - - - - #NAME?
428 8/1/2045 - 899.33 - - - - - #NAME?
429 9/1/2045 - 899.33 - - - - - #NAME?
430 10/1/2045 - 899.33 - - - - - #NAME?
431 11/1/2045 - 899.33 - - - - - #NAME?
432 12/1/2045 - 899.33 - - - - - #NAME?
433 1/1/2046 - 899.33 - - - - - #NAME?
434 2/1/2046 - 899.33 - - - - - #NAME?
435 3/1/2046 - 899.33 - - - - - #NAME?
436 4/1/2046 - 899.33 - - - - - #NAME?
437 5/1/2046 - 899.33 - - - - - #NAME?
438 6/1/2046 - 899.33 - - - - - #NAME?
439 7/1/2046 - 899.33 - - - - - #NAME?
P mt. P aym ent Begin ning Schedu led Extra To tal C umu lative
Principal Interest Ending Balance
No . Date Balance Payment P ayment Paym ent In terest
440 8/1/2046 - 899.33 - - - - - #NAME?
441 9/1/2046 - 899.33 - - - - - #NAME?
442 10/1/2046 - 899.33 - - - - - #NAME?
443 11/1/2046 - 899.33 - - - - - #NAME?
444 12/1/2046 - 899.33 - - - - - #NAME?
445 1/1/2047 - 899.33 - - - - - #NAME?
446 2/1/2047 - 899.33 - - - - - #NAME?
447 3/1/2047 - 899.33 - - - - - #NAME?
448 4/1/2047 - 899.33 - - - - - #NAME?
449 5/1/2047 - #NAME? #NAME? #NAME? #NAME? - #NAME? #NAME?
### 6/1/2047 #NAME? 899.33 - - - #NAME? - #NAME?
451 7/1/2047 - 899.33 - - - - - #NAME?
452 8/1/2047 - 899.33 - - - - - #NAME?
453 9/1/2047 - 899.33 - - - - - #NAME?
454 10/1/2047 - 899.33 - - - - - #NAME?
455 11/1/2047 - 899.33 - - - - - #NAME?
456 12/1/2047 - 899.33 - - - - - #NAME?
457 1/1/2048 - 899.33 - - - - - #NAME?
458 2/1/2048 - 899.33 - - - - - #NAME?
459 3/1/2048 - 899.33 - - - - - #NAME?
460 4/1/2048 - 899.33 - - - - - #NAME?
461 5/1/2048 - 899.33 - - - - - #NAME?
462 6/1/2048 - 899.33 - - - - - #NAME?
463 7/1/2048 - 899.33 - - - - - #NAME?
464 8/1/2048 - 899.33 - - - - - #NAME?
465 9/1/2048 - 899.33 - - - - - #NAME?
466 10/1/2048 - 899.33 - - - - - #NAME?
467 11/1/2048 - 899.33 - - - - - #NAME?
468 12/1/2048 - 899.33 - - - - - #NAME?
469 1/1/2049 - 899.33 - - - - - #NAME?
470 2/1/2049 - 899.33 - - - - - #NAME?
471 3/1/2049 - 899.33 - - - - - #NAME?
472 4/1/2049 - 899.33 - - - - - #NAME?
473 5/1/2049 - 899.33 - - - - - #NAME?
474 6/1/2049 - 899.33 - - - - - #NAME?
475 7/1/2049 - 899.33 - - - - - #NAME?
476 8/1/2049 - 899.33 - - - - - #NAME?
477 9/1/2049 - 899.33 - - - - - #NAME?
478 10/1/2049 - 899.33 - - - - - #NAME?
479 11/1/2049 - 899.33 - - - - - #NAME?
480 12/1/2049 - 899.33 - - - - - #NAME?
_Example FALSE
_Shading FALSE
_Series OfficeReady 3.0
_Look 1
CAP RATE AND GIM
SALES ### Cap Rate 0.00%
CAP RATE Value #DIV/0!
NOI GIM 8.33
EGI 144000
Reconstructed Operating Statement

PGI Potential Gross Income 180000
- VC Vacancy and Collection Losses 18000
+ MI Miscellaneous Income (or reimbursements)
0
= EGI Effective Gross Income 162000
- OE Operating Expenses 64800
- CAPX Capital Expenditures 8100
= NOI Net Operating Income 89100
Bexar County 2009
City of San Antonio 2009

APPRAIASED VALUE ###

Entity Description Tax RateAppraised Value Taxable Value Estimated Tax
6 BEXAR CO RD & FLOOD ### $100,000 $100,000.00 $37.47
8 SA RIVER AUTH ### $100,000 $100,000.00 $15.95
9 ALAMO COM COLLEGE ### $100,000 $100,000.00 $135.86
10 UNIV HEALTH SYSTEM ### $100,000 $100,000.00 $261.02
11 BEXAR COUNTY ### $100,000 $100,000.00 $289.40
21 CITY OF SAN ANTONIO ### $100,000 $100,000.00 $567.14
55 NORTH EAST ISD ### $100,000 $85,000.00 $1,192.47
CAD BEXAR APPRAISAL DISTRICT### $100,000 $100,000.00 $0.00
Total Tax Rate: ### $100,000 $100,000.00 $2,709.73
Taxes w/Current Exemptions:
$2,499.30
Taxes w/o Exemptions: $2,709.73

In order to receive the homestead exemption from the school district, the property must be designated as your homestead for tax purposes (this is different from the constitutional and statutory homestead protection)
If the investment property will not be designated as your homestead, then use the "Taxes w/o Exemptions amount".

Note, that this model has only taken into account a decreased in assessed value for the homestead exemption allowed for school taxes.
This assumes an investment over $100,000. For any sales price less than $100,000, see the Texas Title Manual
For Policies Between 100,001 - 1,000,000
Sales Price $120,000
Title Premium $949.80 BE SURE TO ROUND UP OR DOWN!!!
Present Value ### This is also called the deposit
Interest 5.00%
Year Amount Interest
Ending Amount CALCULATOR FUNCTIONS
0 ### $0.00 -$10,000.00 N
1 ### ### $10,500.00 I
2 ### ### $11,025.00 PV
3 ### ### $11,576.25 PMT
4 ### ### $12,155.06 FV
5 ### ### $12,762.82
6 ### ### $13,400.96
7 ### ### $14,071.00 Amount 100
8 ### ### $14,774.55 Interest 10.00%
9 ### ### $15,513.28 161.05
10 ### ### $16,288.95

Future Value ### This is also called the ending amount

When determining how much I needed to begin investment on the day my daughter was born
to cover her future tuition payments, the financial advisor (that I used at the time) ran a model
stating I would need to invest $250 per month for 216 months to obtain my expected future value.

Note: The text suggests rounding the numbers to the nearest whole number. I have left the decimals
in my examples and have chosen to round up to the nearest whole number. This is something that can
be easily changed in Excel by formatting the cells to display whole numbers only.
RATE I 0.05
NPER N 5
PMT PMT 100
PV PV 0
FV FV $504.18
ANNUAL ANNUITY
Present Value $100.00 This is also called the deposit
Payments $0.00 Annually
Interest 10.00%
Year Beginning Amount Deposit InterestEnding Amount
0 -$100.00 $0.00 $0.00 $100.00
1 $100.00 $0.00 $0.00 $100.00
2 $100.00 $0.00 $10.00 $110.00
3 $110.00 $0.00 $11.00 $121.00
4 $121.00 $0.00 $12.10 $133.10
5 $133.10 $0.00 $13.31 $146.41
6 $146.41 $0.00 $14.64 $161.05
7 $161.05 $0.00 $16.11 $177.16
8 $177.16 $0.00 $17.72 $194.87
9 $194.87 $0.00 $19.49 $214.36
10 $214.36 $10.00 $21.44 $245.79

Future Value $245.79 This is also called the ending amount
MONTHLY ANNUITY
Present Value $0.00 This is also called the deposit
Payments $166.67 Monthly
Interest 5.00% 0.42%
Month Beginning Amount
Deposit Interest Ending Amount
0 $0.00 $0.00 $0.00 $0.00
1 $0.00 ### $0.00 $166.67
2 $166.67 ### $0.69 $334.03
3 $334.03 ### $1.39 $502.10
4 $502.10 ### $2.09 $670.86
5 $670.86 ### $2.80 $840.32
6 $840.32 ### $3.50 $1,010.49
7 $1,010.49 ### $4.21 $1,181.38
8 $1,181.38 ### $4.92 $1,352.97
9 $1,352.97 ### $5.64 $1,525.28
10 $1,525.28 ### $6.36 $1,698.30
11 $1,698.30 ### $7.08 $1,872.05
12 $1,872.05 ### $7.80 $2,046.52
13 $2,046.52 ### $8.53 $2,221.71
14 $2,221.71 ### $9.26 $2,397.64
15 $2,397.64 ### $9.99 $2,574.30
16 $2,574.30 ### $10.73 $2,751.70
17 $2,751.70 ### $11.47 $2,929.83
18 $2,929.83 ### $12.21 $3,108.71
19 $3,108.71 ### $12.95 $3,288.33
20 $3,288.33 ### $13.70 $3,468.70
21 $3,468.70 ### $14.45 $3,649.83
22 $3,649.83 ### $15.21 $3,831.71
23 $3,831.71 ### $15.97 $4,014.34
24 $4,014.34 ### $16.73 $4,197.74
25 $4,197.74 ### $17.49 $4,381.90
26 $4,381.90 ### $18.26 $4,566.83
27 $4,566.83 ### $19.03 $4,752.52
28 $4,752.52 ### $19.80 $4,939.00
29 $4,939.00 ### $20.58 $5,126.25
30 $5,126.25 ### $21.36 $5,314.27
31 $5,314.27 ### $22.14 $5,503.09
32 $5,503.09 ### $22.93 $5,692.69
33 $5,692.69 ### $23.72 $5,883.08
34 $5,883.08 ### $24.51 $6,074.26
35 $6,074.26 ### $25.31 $6,266.24
36 $6,266.24 ### $26.11 $6,459.02
37 $6,459.02 ### $26.91 $6,652.60
38 $6,652.60 ### $27.72 $6,846.99
39 $6,846.99 ### $28.53 $7,042.19
40 $7,042.19 ### $29.34 $7,238.20
41 $7,238.20 ### $30.16 $7,435.03
42 $7,435.03 ### $30.98 $7,632.68
43 $7,632.68 ### $31.80 $7,831.15
44 $7,831.15 ### $32.63 $8,030.45
45 $8,030.45 ### $33.46 $8,230.58
46 $8,230.58 ### $34.29 $8,431.55
47 $8,431.55 ### $35.13 $8,633.35
48 $8,633.35 ### $35.97 $8,835.99
49 $8,835.99 ### $36.82 $9,039.48
50 $9,039.48 ### $37.66 $9,243.81
51 $9,243.81 ### $38.52 $9,449.00
52 $9,449.00 ### $39.37 $9,655.04
53 $9,655.04 ### $40.23 $9,861.94
54 $9,861.94 ### $41.09 $10,069.70
55 $10,069.70 ### $41.96 $10,278.33
56 $10,278.33 ### $42.83 $10,487.82
57 $10,487.82 ### $43.70 $10,698.19
58 $10,698.19 ### $44.58 $10,909.44
59 $10,909.44 ### $45.46 $11,121.56
60 $11,121.56 ### $46.34 $11,334.57

Future Value $11,334.57 This is also called the ending amount
DISCOUNT CASH FLOW ANALYSIS (DCF)

Time 10 Time CF DR DCF
CF $0.00 10 ### 2.59 ###
Opportunity Cost
10.00%
DR
PMT 0
FV ###
PV 192,772
DISCOUNT CASH FLOW ANALYSIS (DCF)
Time CF DR DCF
0 0 1 0
1 12,000 1.1 10,909
2 12,000 1.21 9,917
3 12,000 1.33 9,016
4 12,000 1.46 8,196
5 12,000 1.61 7,451
6 12,000 1.77 6,774
7 12,000 1.95 6,158
8 12,000 2.14 5,598
9 12,000 2.36 5,089
10 512,000 2.59 ###
###