004b - Cargo Transactions at Shedezar

[Eris]

BTW, did you account for your Cr 154,500 mortgage payment...

I need to quickly decide if it's actually due every 28 days or every 30 days or 12 times every 365 days...

Preserving the same lifetime and general payment idea, I could make it Cr 143,000 every 28 days (cost / 260 for 520 payments every 28 days, about 40 years).

154k... for Christmas sakes.

Sigh! One reason I really wanted the date at the beginning of the game was so this wouldn't happen. I've been working under the assumption that the first payment would come due on the 75th, while we were enroute to Arthiop and we'd pay it there after selling the Machine Tools. I started backtracking time since you asked and I think I'm wrong, it's due on the 67th and thus due here on Shedezar!

Ignore my posts about cargo/freight load as I'll need to rearrange that right now.

In the book payment of the mortgage is listed as once per month, but month isn't defined. The Traveller Calendar doesn't really have months, but because of the way repayment is described

Because the bank now holds title to the ship, the price must be paid off in a series of monthly payments to it. Standard terms involve the payment of 1/240th of the cash price each month for 480 months. In effect, interest and bank financing cost a simple 120% of the final cost of the ship, and the total financed price equals 220% of the cash purchase price, paid off over a period of 40 years.

480 payments over 40 years is 12 payments a year. That would work out to a payment every 30 days, plus time off at the end of the year for Annual Maintenance. That's the way I look at it anyway.

To keep things simple, can we say payments are due on day 30/60/90/120/... or as soon as the ship makes its next port if the due date falls while the ship is in jump?

If this is acceptable to you, a payment was due on day 60 (while in jump) and should be made here on Shedezar.

Let me look at the numbers and rearrange cargo load to deal with this...

[Eris]

New plan reflecting the 154,500 cr mortgage...

1. Buy the 20 tons Aluminum as before.
2. DO NOT buy the Fruit.
3. Take 60 tons of freight (30, 20, 5, 5)

That gives us 134,500 in cash.

4. Take a short term loan from Andy for 50,000 at 0 interest to be repaid on Arthiop after we sell the spec cargo.

That gives us 184,500

5. Pay the mortgage of 154,500

6. We lift with 30,000 cr cash for expenses on Arthiop.

If we could get the "buy in" from Pongo and Chu we wouldn't need such a big short term loan, but I haven't heard yay or nay from either of their players. Do we need to "finance" their buy in's with loans from Andy or someone else? If we do then Andy will loan 20 to each and 10 to the ship as the short term loan.

If this works for everyone, especially Frank, I'll adjust the Finances worksheet.

[ffilz]

Sorry if I didn't help with the payment...

The smaller more frequent 4 week payments work better with the typical schedule, though who knows how well that holds.

So I'm ok with 30 day payments, but I think actually if the payment would be due during jump, you need to pay it before departing. That still gives you two full trade cycles between payments, with one extra cycle completed during the year. We'll do the cycle from the day you took possession, so your payment was due the 67th, which you should have made port... but didn't because of the misjump, so you were late... (remember the week lost due to misjump...).

Since we all forgot about this, we'll assume no repercussions from the late payment (one time grace?).

Your next payment will be due the 97th.

Did you adjust for some payout of departing crew?

Chu needs a loan for his buy in unless he cashes in his passages (that's Cr 32,400). Why don't you PM the players to offer them the contract and verify their buy in (otherwise of course they need to pay passage... Note as a ship owner, you could convert one of Chu's High Passages to Kcr 10 instead of the usual Kcr 9...).

Frank

[Ramona]

Do not forget the 17,850 in profits from the sale of scuba gear. It sold for 35,000 minus the initial cash outlay 8+5=13,000, minus 1,000 for not selling both cargos here. So 21,000 less 15% for the clerk should be 17,850.

[Tiglath]

Grimaud has spare cash to the tune of about 20KCr if we're short ...

Being an ex Merchant he knows a good investment when he sees one!

[Ramona]

If we pay prior to jump they have our money for potentially 7 days earning interest on it, it is more than likely an automatic, every x days withdrawal. Imagine a bank holding hundreds of ships loans, they could potentially be making millions of credits in interest every month just by withdrawing the funds early.

Keep in mind with the 7 days of lag every jump and the loan holding bank being potentially months away I imagine there’s a ton of debit kiting that goes on. Buying cargo with money you have but don’t have because the withdrawal has yet to go through but will have in a week when you sell the cargo. It’d be like cheque kiting and it’s probably rampant.

[ffilz]

If we pay prior to jump they have our money for potentially 7 days earning interest on it, it is more than likely an automatic, every x days withdrawal. Imagine a bank holding hundreds of ships loans, they could potentially be making millions of credits in interest every month just by withdrawing the funds early.

Keep in mind with the 7 days of lag every jump and the loan holding bank being potentially months away I imagine there’s a ton of debit kiting that goes on. Buying cargo with money you have but don’t have because the withdrawal has yet to go through but will have in a week when you sell the cargo.

I don't want to go too deep with the implications of the size of my Imperium on finances, so I'm going to assume some kind of block chain magic that keeps your current account information travelling with you. Now yea, it does take weeks or months for the money to actually make it to the bank holding the loan. I dunno how that works and I don't want to go into it...

[ffilz]

Do not forget the 17,850 in profits from the sale of scuba gear. It sold for 35,000 minus the initial cash outlay 8+5=13,000, minus 1,000 for not selling both cargos here. So 21,000 less 15% for the clerk should be 17,850.

You only have to account for not selling Squee's container. You sold 3 sets of the scuba gear, at clearly are taking personal possession of the other two (that's actually an advantage to taking those diving lessons), so that cargo clearly sold here.

[Eris]

Do not forget the 17,850 in profits from the sale of scuba gear. It sold for 35,000 minus the initial cash outlay 8+5=13,000, minus 1,000 for not selling both cargos here. So 21,000 less 15% for the clerk should be 17,850.

OOC: Ana handled this transaction, you should be the one updating the worksheet. You've all got access to that worksheet and if you don't, tell me and I'll give it to you.

[Ramona]

Done. I think. I can’t balance a chequebook but I think I got it.