Farm Pro PA: Planned Capital Purchases or Improvements
Workbook Instructions
The Planned Capital Purchases or Improvements workbook contains four amortization spreadsheets. The Capital Purchases tab contains the basic information that can be transferred into the other two workbooks. If you are planning any capital purchase within the fiscal year, use this workbook to calculate the figures needed to input into the cash flow statement in one of the two Farm Pro Tools.
List the date purchased, item purchased, total cost, expected life, and expected years you will finance the purchase. These are divided into Intermediate and Long-term purchases. When you have this information, use one of the other four tabs to calculate the monthly or yearly payments, whichever your lender offers.
You have a tab for intermediate purchases, two to seven years payments. At the top of the spreadsheet, you will find the column headings of Amount, Interest Rate, Term (years), Payments per Year, and Number of Payments. Under the headings you will find Year Number, Period Number, Balance, Payment, Principal, and Interest headings.
For the Intermediate Term tab, enter the amount of the loan under Amount. Then add the interest rate under the heading Interest Rate. Next, enter the Number of Years of the loan. Under the Payments per Year enter the number of anticipated payments per year. Most lenders will require either monthly or yearly payments. The Number of Payments will be calculated when you enter the term and payments per year.
The Balance column keeps a running total of the balance of the loan and the Payment column contains the amount of the payment for each month. The principal and Interest columns will show the portions of each for each payment. To the right of the columns, we have calculated the principal and interest payments for each year and totaled those for a total payment per year.
There are three additional tabs labeled 15 Year Annual, 30 year Annual and Monthly Payments. These are used for long-term loans and are used the same as the Intermediate tab. Input the information in the top cells and the calculations will be completed.
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