The Imperial Calendar

[RKFM]

Um, I just noticed that according to the Imperial Calendar the year actually has 13 months.

Assuming a week is 7 days, and that most sources point to a general 2 jumps per month (1 week in Jump, 1 week in-system), so a month is 4 weeks (or 28 days). Holiday is the leap day.

I guess you'll pay off that Yacht a lot sooner!

Of course, it helps on ship payments if you keep the 40 year loan so that that would be 1/260 of the price for 520 months

Heck, with a full hold and full manifest of High and Low passengers the A2 comes almost close to breaking even!

 

[far-trader]

Interesting, that never really hit me since I take the mortgage payments and multiply by 12 to get an annual amount and divide that by the standard number of trips in a year (25). So rather than 12 monthly payments I make 25 bi-weekly payments. It does make each payment smaller (easier to budget) but not the overall debt.

A 40 year loan of 12 monthly payments of 1/240 the price is the same as a 40 year loan of 13 monthly payments of 1/260 the price. So no faster payoff, sorry. Unless you can find a bank that will mix the calendars in your favour

Even then the A2 still won't break even on standard trade, not by a long shot

I'm wondering now if somewhere players have been paying monthly (every 28 days) and thereby making an extra payment every year? Could treat it as a ballon payment I guess, and pay the ship off a few years early.

 

[Magnus von Thornwood]

Geez folks...

It's called a Bank Holiday, the Imperial Calender uses Solomani style months for accounting proposes and use those additional weeks for important stuff like golf.

 

[RKFM]

A 40 year loan of 12 monthly payments of 1/240 the price is the same as a 40 year loan of 13 monthly payments of 1/260 the price. So no faster payoff, sorry.

Yes, there is no faster payoff but the monthly payments are bit smaller.

It's called a Bank Holiday, the Imperial Calender uses Solomani style months for accounting proposes and use those additional weeks for important stuff like golf.

Hm, it would be nice to be able to get one free month a year for those lean times....

 

[CosmicGamer]

First, where does it state that a month is exactly 4 weeks? In my materials I only have references to days, weeks, and years.

Next, I'm no math whiz. If there are 12 months in a year you make 480 payments of 1/240th of the ships cost over 40 years. What is the interest rate? How does this compare to if there are 13 monthly payments per year of 1/240th of the ships cost over 40 years (520 payments).

IMO, if you use the default mortgage specified (no reason you have to), the payments are still 1/240th of the original ship cost per month (in my version it's pretty specific about this) no matter how many monthly payments you decide are in a year. So how's about a 365 day month?

One option if you believe there are 13 months is that maybe you don't have to make a payment in the 13th month because the 'bank' wants to encourage you to do the ship maintenance?

 

[aramis]

Dan: that should be 25 trips per year; you need a week+ for annual maintenance!

First, where does it state that a month is exactly 4 weeks? In my materials I only have references to days, weeks, and years.

Supp 12, with the Imperial Calendar form.

Next, I'm no math whiz. If there are 12 months in a year you make 480 payments of 1/240th of the ships cost over 40 years. What is the interest rate? How does this compare to if there are 13 monthly payments per year of 1/240th of the ships cost over 40 years (520 payments).

About about 1.7% compounded monthly.

IMO, if you use the default mortgage specified (no reason you have to), the payments are still 1/240th of the original ship cost per month (in my version it's pretty specific about this) no matter how many monthly payments you decide are in a year. So how's about a 365 day month?

One option if you believe there are 13 months is that maybe you don't have to make a payment in the 13th month because the 'bank' wants to encourage you to do the ship maintenance?

It's what I do.

 

[far-trader]

Dan: that should be 25 trips per year; you need a week+ for annual maintenance!

Oops, right, I meant 25, wasn't forgetting the maintenance, honest (the 13 month thing threw me off)