HomeMy WebLinkAboutdebt service calculator (0002)Debt Service Calculator
1)$20,000,000
2)Enter borrowing conditions:Interest Rate (e.g., 3.5% as 3.5):5.5000 percent
Term ( enter 5 or more)30 years
3)Indicate ("x") payment type. Check both for comparisons.
Level Debt Service x
Level Principal x
Projected annual payment
Level Debt Service $1,376,108
Level Principal (Year One)$1,766,667
Principal & Interest Interest only
Level Debt Service $41,283,234 $21,283,234
Level Principal $37,050,000 $17,050,000
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Year Level debt service ($)Level principal ($)Year Level debt service ($)Level principal ($)
1 1,376,108 1,766,667 21 1,376,108 1,033,333
2 1,376,108 1,730,000 22 1,376,108 996,667
3 1,376,108 1,693,333 23 1,376,108 960,000
4 1,376,108 1,656,667 24 1,376,108 923,333
5 1,376,108 1,620,000 25 1,376,108 886,667
6 1,376,108 1,583,333 26 1,376,108 850,000
7 1,376,108 1,546,667 27 1,376,108 813,333
8 1,376,108 1,510,000 28 1,376,108 776,667
9 1,376,108 1,473,333 29 1,376,108 740,000
10 1,376,108 1,436,667 30 1,376,108 703,333
11 1,376,108 1,400,000
12 1,376,108 1,363,333
13 1,376,108 1,326,667
14 1,376,108 1,290,000
15 1,376,108 1,253,333
16 1,376,108 1,216,667
17 1,376,108 1,180,000
18 1,376,108 1,143,333
19 1,376,108 1,106,667
20 1,376,108 1,070,000
This calculator is provided by the Division of Local Services only as a guide to assist communities in projecting debt service. Refer to M.G.L. Ch. 44 s.7 (inside debt limit) and Ch. 44 s.8 (outside debt limit) to determine allowable borrowing terms for various financing purposes. Any premiums or costs of borrowing (i.e., legal or bond counsel fees) are not accounted for. We strongly advise municipalities to confirm borrowing conditions and calculations with the city or town treasurer and financial advisor.
Enter amount to be borrowed.
Projected total payments over term.
Debt Service Calculator
1)Enter amount to be borrowed.20000000
2)Enter borrowing conditions:Interest Rate (e.g., 3.5% as 3.5):5 percent
Term ( enter 5 or more)30 years
3)Indicate ("x") payment type. Check both for comparisons.
Level Debt Service x
Level Principal x
Projected annual payment
Level Debt Service 1301028.702
Level Principal (Year One)1666666.667
Projected total payments over term.Principal & Interest Interest only
Level Debt Service 39,030,861.05 19,030,861.05
Level Principal 35,500,000.00 15,500,000.00
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Year Level debt servi Level principal ($)Year Level debt servi Level principal ($)
1 1,301,028.70 1,666,666.67 21 1,301,028.70 1,000,000.00 2 1,301,028.70 1,633,333.33 22 1,301,028.70 966,666.67
3 1,301,028.70 1,600,000.00 23 1,301,028.70 933,333.33 4 1,301,028.70 1,566,666.67 24 1,301,028.70 900,000.00 5 1,301,028.70 1,533,333.33 25 1,301,028.70 866,666.67 6 1,301,028.70 1,500,000.00 26 1,301,028.70 833,333.33 7 1,301,028.70 1,466,666.67 27 1,301,028.70 800,000.00 8 1,301,028.70 1,433,333.33 28 1,301,028.70 766,666.67 9 1,301,028.70 1,400,000.00 29 1,301,028.70 733,333.33 10 1,301,028.70 1,366,666.67 30 1,301,028.70 700,000.00 11 1,301,028.70 1,333,333.33 12 1,301,028.70 1,300,000.00 13 1,301,028.70 1,266,666.67 14 1,301,028.70 1,233,333.33 15 1,301,028.70 1,200,000.00
16 1,301,028.70 1,166,666.67 17 1,301,028.70 1,133,333.33
18 1,301,028.70 1,100,000.00 19 1,301,028.70 1,066,666.67
20 1,301,028.70 1,033,333.33
This calculator is provided by the Division of Local Services only as a guide to assist communities in projecting
debt service. Refer to M.G.L. Ch. 44 s.7 (inside debt limit) and Ch. 44 s.8 (outside debt limit) to determine allowable borrowing terms for various financing purposes. Any premiums or costs of borrowing (i.e., legal or bond
counsel fees) are not accounted for. We strongly advise municipalities to confirm borrowing conditions and calculations with the city or town treasurer and financial advisor.