establishing a commercial bank in jordan - version 3

Establishing a Commercial Bank in Jordan Business Plan & Feasibility Study – Version 3: Forecasting Housing Loans Revenue

Tariq Al-Basha 5/9/16 Investment Opportunities in Jordan

Establishing a Commercial Bank in Jordan Tariq Al-Basha – 00962 7 9767 7418 – [email protected]

Page 1 of 22

Contents Executive Summary ......................................................................................................................... 3

Raising Capital ................................................................................................................................. 5

Budgeting & Forecast ...................................................................................................................... 6

Personal Loans Budget ................................................................................................................ 6

Car Loans Budget ......................................................................................................................... 7

Housing Loans Budget ................................................................................................................. 8

Personal Loans Cash Flow ........................................................................................................... 9

Car Loans Cash Flow .................................................................................................................. 10

Housing Loans Cash Flow .......................................................................................................... 11

Personal & Car Loans – Net Revenue ........................................................................................ 12

Appendix ........................................................................................................................................ 13

Example of Personal Loan ......................................................................................................... 13

Example of Car Loan .................................................................................................................. 15

Example of House Loan ............................................................................................................. 18

mailto:[email protected]


Page 2 of 22

يطان من الذين يأكلون الربا ال ي قومون إال كما ي قوم الذي ي تخبطه الشا الب يع مثل الربا وأحل الله الب يع وحرم الربا المس ذلك بأن هم قالوا إن

ن ربه فانت هى ف له ما سلف وأمره إل الله ومن عاد فمن جاءه موعظة م فأولئك أصحاب النار هم فيها خالدو ن

صدق هللا العظيم

275آية –سورة البقرة



Page 3 of 22

Executive Summary The aim of this feasibility study and business plan is to present an investment opportunity

in Jordan, where the investment opportunity is to establish a commercial bank in Jordan.

The bank aims to raise a capital of JOD 110 million from 22 different individuals,

corporation and/or government bodies in the Arab World.

In this version, the feasibility study and business plan will focus on developing first

1. A budget for personal loans lent to borrowers in which the bank shall allocate a

budget of JOD 5 million to be lent to 1,000 borrowers where the average loan

amount is JOD 5,000 at an interest rate of 19%; repaid in 5 years or 60 months.

2. A budget for car loans lent to borrowers in which the bank shall allocate a budget

of JOD 5 million to be lent to 500 borrowers where the average loan amount is

JOD 10,000 at an interest rate of 18%; repaid in 10 years or 120 months.

3. A budget for housing loans lent to borrowers in which the bank shall allocate a

budget of JOD 5 million to be lent to 100 borrowers where the average loan amount

is JOD 50,000 at an interest rate of 17%; repaid in 12 years or 144 months.

The bank shall re-lend the principal amount repaid by its borrowers to new borrowers in

which the total number of borrowers shall be

1. Around 3,427 borrows for personal loan borrowers in Year 10. As mentioned

earlier, the bank will start with a JOD 5-million budget. However, the total amount

lent to borrowers shall be JOD 17.2 million in Year 10.

2. Around 987 borrows for car loan borrowers in Year 10. As mentioned earlier, the

bank will start with a JOD 5-million budget. However, the total amount lent to

borrowers shall be JOD 9.9 million in Year 10.



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3. Around 163 borrows for housing loan borrowers in Year 10. As mentioned earlier,

the bank will start with a JOD 5-million budget. However, the total amount lent to

borrowers shall be JOD 8.1 million in Year 10.

In addition, the bank will also generate a total revenue of interest of

1. JOD 7.7 million over the course of 10 years from personal loans, where the return

of investment and internal rate of return is expected to be 25% and 10%

respectively in Year 10.

2. JOD 7.9 million over the course of 10 years from car loans, where the return of

investment and internal rate of return is expected to be 42% and 0.26%


3. JOD 7.6 million over the course of 10 years from housing loans, where the return

of investment and internal rate of return is expected to be 41.7% and -5.3%


Lastly, the bank is expected to generate a net revenue of JOD 18 million over the course

of 10 years after deducting the principal amount lent to borrowers and 4% interest for

depositors.



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Raising Capital No. Shareholders Amount (JOD) Ownership % Nationality

1 Shareholders No. 1 5,000,000.00 4.55% Algeria

2 Shareholders No. 2 5,000,000.00 4.55% Bahrain

3 Shareholders No. 3 5,000,000.00 4.55% Comoros

4 Shareholders No. 4 5,000,000.00 4.55% Djibouti

5 Shareholders No. 5 5,000,000.00 4.55% Egypt

6 Shareholders No. 6 5,000,000.00 4.55% Iraq

7 Shareholders No. 7 5,000,000.00 4.55% Jordan

8 Shareholders No. 8 5,000,000.00 4.55% Kuwait

9 Shareholders No. 9 5,000,000.00 4.55% Lebanon

10 Shareholders No. 10 5,000,000.00 4.55% Libya

11 Shareholders No. 11 5,000,000.00 4.55% Mauritania

12 Shareholders No. 12 5,000,000.00 4.55% Morocco

13 Shareholders No. 13 5,000,000.00 4.55% Oman

14 Shareholders No. 14 5,000,000.00 4.55% Palestine

15 Shareholders No. 15 5,000,000.00 4.55% Qatar

16 Shareholders No. 16 5,000,000.00 4.55% Saudi Arabia

17 Shareholders No. 17 5,000,000.00 4.55% Somalia

18 Shareholders No. 18 5,000,000.00 4.55% Sudan

19 Shareholders No. 19 5,000,000.00 4.55% Syria

20 Shareholders No. 20 5,000,000.00 4.55% Tunisia

21 Shareholders No. 21 5,000,000.00 4.55% United Arab Emirates

22 Shareholders No. 22 5,000,000.00 4.55% Yemen

Total 110,000,000.00



Page 6 of 22

Budgeting & Forecast Personal Loans Budget

Budgeting & Forecasting Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Total Average

Total Annual Budget (JOD) 5,000,000.00 685,250.83 909,362.23 1,206,769.30 1,601,443.40 2,125,195.73 1,184,990.52 1,348,430.47 1,492,027.81 1,585,321.65 17,138,791.94 1,713,879.19

Average Loan Lent 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00

Annual Target No. of Borrowers 1,000.00 137.05 181.87 241.35 320.29 425.04 237.00 269.69 298.41 317.06 3,427.76 342.78

Analysis

Principal Repayment Forecast Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Total Average %

Total Principal Repayment - Year 1 685,250.83 815,448.49 970,383.70 1,154,756.61 1,374,160.36 5,000,000.00 1,000,000.00 36.45%

Total Principal Repayment - Year 2 93,913.74 111,757.35 132,991.25 158,259.59 188,328.91 685,250.83 137,050.17 4.99%


Total Principal Repayment - Year 4 165,387.93 196,811.64 234,205.85 278,704.97 331,658.91 1,206,769.30 241,353.86 8.80%



Total Principal Repayment - Year 7 162,403.15 193,259.75 229,979.10 273,675.13 859,317.12 214,829.28 6.26%

Total Principal Repayment - Year 8 184,802.62 219,915.12 261,698.99 666,416.73 222,138.91 4.86%

Total Principal Repayment - Year 9 204,482.66 243,334.36 447,817.02 223,908.51 3.26%

Total Principal Repayment - Year 10 217,268.60 217,268.60 217,268.60 1.58%

Total 685,250.83 909,362.23 1,206,769.30 1,601,443.40 2,125,195.73 1,184,990.52 1,348,430.47 1,492,027.81 1,585,321.65 1,580,049.03 13,718,840.97 1,371,884.10 100.00%

Cumulative 685,250.83 1,594,613.06 2,801,382.37 4,402,825.77 6,528,021.50 7,713,012.02 9,061,442.49 10,553,470.29 12,138,791.94 13,718,840.97

Analysis

Interest Payment Forecast Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Total Average %

Total Interest Payment - Year 1 822,796.80 692,599.15 537,663.93 353,291.03 133,887.27 2,540,238.18 508,047.64 33.02%

Total Interest Payment - Year 2 112,764.44 94,920.83 73,686.93 48,418.59 18,349.27 348,140.07 69,628.01 4.52%




Total Interest Payment - Year 6 349,720.85 294,381.75 228,528.22 150,162.52 56,907.33 1,079,700.67 215,940.13 14.03%

Total Interest Payment - Year 7 195,001.28 164,144.68 127,425.33 83,729.30 570,300.60 142,575.15 7.41%

Total Interest Payment - Year 8 221,896.86 186,784.36 145,000.49 553,681.70 184,560.57 7.20%

Total Interest Payment - Year 9 245,527.14 206,675.44 452,202.58 226,101.29 5.88%

Total Interest Payment - Year 10 260,879.52 260,879.52 260,879.52 3.39%

Total 822,796.80 805,363.58 782,228.83 751,527.85 710,786.10 783,922.96 771,209.26 760,039.09 752,781.93 753,192.08 7,693,848.48 769,384.85 100.00%

Cumulative 822,796.80 1,628,160.39 2,410,389.22 3,161,917.06 3,872,703.17 4,656,626.13 5,427,835.39 6,187,874.48 6,940,656.40 7,693,848.48



Page 7 of 22

Car Loans Budget Budgeting & Forecasting Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Total Average %

Total Annual Budget (JOD) 5,000,000.00 212,573.21 259,873.86 317,699.60 388,392.41 474,815.40 580,468.78 709,631.59 867,535.01 1,060,574.25 9,871,564.09 987,156.41


Annual Target No. of Borrowers 500.00 21.26 25.99 31.77 38.84 47.48 58.05 70.96 86.75 106.06 987.16 98.72

Analysis


Total Principal Repayment - Year 1 212,573.21 250,836.38 295,986.93 349,264.58 412,132.21 486,316.00 573,852.88 677,146.40 799,032.75 942,858.65 5,000,000.00 500,000.00 81.06%

Total Principal Repayment - Year 2 9,037.47 10,664.22 12,583.78 14,848.86 17,521.65 20,675.55 24,397.15 28,788.64 33,970.59 172,487.91 19,165.32 2.80%

Total Principal Repayment - Year 3 11,048.44 13,037.16 15,383.85 18,152.95 21,420.48 25,276.16 29,825.87 35,194.53 169,339.45 21,167.43 2.75%

Total Principal Repayment - Year 4 13,506.88 15,938.12 18,806.99 22,192.24 26,186.85 30,900.48 36,462.57 163,994.13 23,427.73 2.66%

Total Principal Repayment - Year 5 16,512.36 19,484.59 22,991.82 27,130.34 32,013.80 37,776.29 155,909.20 25,984.87 2.53%






Total 212,573.21 259,873.86 317,699.60 388,392.41 474,815.40 580,468.78 709,631.59 867,535.01 1,060,574.25 1,296,567.54 6,168,131.64 616,813.16 100.00%

Cumulative 212,573.21 472,447.06 790,146.66 1,178,539.07 1,653,354.47 2,233,823.26 2,943,454.84 3,810,989.85 4,871,564.09 6,168,131.64

Analysis


Total Interest Payment - Year 1 817,553.16 779,289.98 734,139.43 680,861.79 617,994.16 543,810.36 456,273.48 352,979.96 231,093.61 87,267.72 5,301,263.66 530,126.37 67.31%

Total Interest Payment - Year 2 34,757.98 33,131.23 31,211.67 28,946.59 26,273.80 23,119.90 19,398.30 15,006.82 9,824.86 221,671.17 24,630.13 2.81%

Total Interest Payment - Year 3 42,492.14 40,503.42 38,156.73 35,387.64 32,120.11 28,264.42 23,714.71 18,346.05 258,985.21 32,373.15 3.29%

Total Interest Payment - Year 4 51,947.26 49,516.02 46,647.16 43,261.90 39,267.30 34,553.67 28,991.58 294,184.89 42,026.41 3.74%

Total Interest Payment - Year 5 63,506.29 60,534.06 57,026.84 52,888.31 48,004.85 42,242.36 324,202.71 54,033.78 4.12%






Total 817,553.16 814,047.96 809,762.81 804,524.14 798,119.79 790,290.39 780,718.83 769,017.45 754,712.34 737,224.15 7,875,971.01 787,597.10 100.00%

Cumulative 817,553.16 1,631,601.12 2,441,363.93 3,245,888.07 4,044,007.86 4,834,298.25 5,615,017.07 6,384,034.52 7,138,746.87 7,875,971.01



Page 8 of 22

Housing Loans Budget

Budgeting & Forecasting Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Total Average %

Total Annual Budget (JOD) 5,000,000.00 152,327.91 182,864.41 219,522.43 263,529.13 316,357.65 379,776.47 455,908.58 547,302.55 657,017.88 8,174,607.00 817,460.70


Annual Target No. of Borrowers 100.00 3.05 3.66 4.39 5.27 6.33 7.60 9.12 10.95 13.14 163.49 16.35

Analysis


Total Principal Repayment - Year 1 152,327.91 178,223.65 208,521.68 243,970.36 285,445.32 333,971.03 390,746.10 457,172.94 534,892.34 625,824.03 3,411,095.36 341,109.54 86.07%

Total Principal Repayment - Year 2 4,640.76 5,429.69 6,352.73 7,432.70 8,696.26 10,174.62 11,904.31 13,928.04 16,295.81 84,854.91 9,428.32 2.14%

Total Principal Repayment - Year 3 5,571.07 6,518.15 7,626.24 8,922.70 10,439.56 12,214.28 14,290.71 16,720.13 82,302.85 10,287.86 2.08%

Total Principal Repayment - Year 4 6,687.88 7,824.82 9,155.04 10,711.39 12,532.33 14,662.83 17,155.51 78,729.79 11,247.11 1.99%

Total Principal Repayment - Year 5 8,028.57 9,393.42 10,990.31 12,858.66 15,044.63 17,602.22 73,917.81 12,319.63 1.87%






Total 152,327.91 182,864.41 219,522.43 263,529.13 316,357.65 379,776.47 455,908.58 547,302.55 657,017.88 788,727.35 3,963,334.35 396,333.43 100.00%

Cumulative 152,327.91 335,192.32 554,714.76 818,243.88 1,134,601.53 1,514,377.99 1,970,286.57 2,517,589.12 3,174,607.00 3,963,334.35

Analysis


Total Interest Payment - Year 1 779,455.77 753,560.03 723,262.00 687,813.32 646,338.36 597,812.65 541,037.58 474,610.74 396,891.34 305,959.65 5,906,741.44 590,674.14 77.49%

Total Interest Payment - Year 2 23,746.57 22,957.64 22,034.60 20,954.63 19,691.07 18,212.71 16,483.02 14,459.29 12,091.53 170,631.08 18,959.01 2.24%

Total Interest Payment - Year 3 28,506.94 27,559.86 26,451.78 25,155.32 23,638.46 21,863.73 19,787.30 17,357.88 190,321.27 23,790.16 2.50%

Total Interest Payment - Year 4 34,221.61 33,084.67 31,754.45 30,198.09 28,377.15 26,246.66 23,753.98 207,636.60 29,662.37 2.72%

Total Interest Payment - Year 5 41,081.86 39,717.00 38,120.12 36,251.77 34,065.80 31,508.21 220,744.76 36,790.79 2.90%






Total 779,455.77 777,306.60 774,726.59 771,629.39 767,911.29 763,447.85 758,089.64 751,657.30 743,935.49 734,665.73 7,622,825.66 762,282.57 100.00%

Cumulative 779,455.77 1,556,762.37 2,331,488.96 3,103,118.35 3,871,029.64 4,634,477.49 5,392,567.14 6,144,224.44 6,888,159.93 7,622,825.66


E s t a b l i s h i n g a C o m m e r c i a l B a n k i n J o r d a n

T a r i q A l - B a s h a – 0 0 9 6 2 7 9 7 6 7 7 4 1 8 – t a r i q a l b a s h a @ o u t l o o k . c o m

P a g e 9 o f 2 2

P e r s o n a l L o a n s C a s h F l o w

N o . E n t r y Y e a r 1 Y e a r 2 Y e a r 3 Y e a r 4 Y e a r 5 Y e a r 6 Y e a r 7 Y e a r 8 Y e a r 9 Y e a r 1 0

1 L e n d i n g C a p i t a l

1 . 1 P e r s o n a l L o a n s 5 , 0 0 0 , 0 0 0 . 0 0 6 8 5 , 2 5 0 . 8 3 9 0 9 , 3 6 2 . 2 3 1 , 2 0 6 , 7 6 9 . 3 0 1 , 6 0 1 , 4 4 3 . 4 0 2 , 1 2 5 , 1 9 5 . 7 3 1 , 1 8 4 , 9 9 0 . 5 2 1 , 3 4 8 , 4 3 0 . 4 7 1 , 4 9 2 , 0 2 7 . 8 1 1 , 5 8 5 , 3 2 1 . 6 5

T o t a l 5 , 0 0 0 , 0 0 0 . 0 0 6 8 5 , 2 5 0 . 8 3 9 0 9 , 3 6 2 . 2 3 1 , 2 0 6 , 7 6 9 . 3 0 1 , 6 0 1 , 4 4 3 . 4 0 2 , 1 2 5 , 1 9 5 . 7 3 1 , 1 8 4 , 9 9 0 . 5 2 1 , 3 4 8 , 4 3 0 . 4 7 1 , 4 9 2 , 0 2 7 . 8 1 1 , 5 8 5 , 3 2 1 . 6 5

C u m u l a t i v e 5 , 0 0 0 , 0 0 0 . 0 0 5 , 6 8 5 , 2 5 0 . 8 3 6 , 5 9 4 , 6 1 3 . 0 6 7 , 8 0 1 , 3 8 2 . 3 7 9 , 4 0 2 , 8 2 5 . 7 7 1 1 , 5 2 8 , 0 2 1 . 5 0 1 2 , 7 1 3 , 0 1 2 . 0 2 1 4 , 0 6 1 , 4 4 2 . 4 9 1 5 , 5 5 3 , 4 7 0 . 2 9 1 7 , 1 3 8 , 7 9 1 . 9 4

2 L o a n R e p a y m e n t

2 . 1 P r i n c i p a l R e p a y m e n t 6 8 5 , 2 5 0 . 8 3 9 0 9 , 3 6 2 . 2 3 1 , 2 0 6 , 7 6 9 . 3 0 1 , 6 0 1 , 4 4 3 . 4 0 2 , 1 2 5 , 1 9 5 . 7 3 1 , 1 8 4 , 9 9 0 . 5 2 1 , 3 4 8 , 4 3 0 . 4 7 1 , 4 9 2 , 0 2 7 . 8 1 1 , 5 8 5 , 3 2 1 . 6 5 1 , 5 8 0 , 0 4 9 . 0 3

2 . 2 I n t e r e s t P a y m e n t s 8 2 2 , 7 9 6 . 8 0 8 0 5 , 3 6 3 . 5 8 7 8 2 , 2 2 8 . 8 3 7 5 1 , 5 2 7 . 8 5 7 1 0 , 7 8 6 . 1 0 7 8 3 , 9 2 2 . 9 6 7 7 1 , 2 0 9 . 2 6 7 6 0 , 0 3 9 . 0 9 7 5 2 , 7 8 1 . 9 3 7 5 3 , 1 9 2 . 0 8

T o t a l 1 , 5 0 8 , 0 4 7 . 6 4 1 , 7 1 4 , 7 2 5 . 8 2 1 , 9 8 8 , 9 9 8 . 1 3 2 , 3 5 2 , 9 7 1 . 2 5 2 , 8 3 5 , 9 8 1 . 8 4 1 , 9 6 8 , 9 1 3 . 4 8 2 , 1 1 9 , 6 3 9 . 7 3 2 , 2 5 2 , 0 6 6 . 8 9 2 , 3 3 8 , 1 0 3 . 5 8 2 , 3 3 3 , 2 4 1 . 1 0

C u m u l a t i v e 1 , 5 0 8 , 0 4 7 . 6 4 3 , 2 2 2 , 7 7 3 . 4 5 5 , 2 1 1 , 7 7 1 . 5 8 7 , 5 6 4 , 7 4 2 . 8 3 1 0 , 4 0 0 , 7 2 4 . 6 7 1 2 , 3 6 9 , 6 3 8 . 1 5 1 4 , 4 8 9 , 2 7 7 . 8 8 1 6 , 7 4 1 , 3 4 4 . 7 7 1 9 , 0 7 9 , 4 4 8 . 3 5 2 1 , 4 1 2 , 6 8 9 . 4 5

N e t C a s h ( 3 , 4 9 1 , 9 5 2 . 3 6 ) 1 , 0 2 9 , 4 7 4 . 9 8 1 , 0 7 9 , 6 3 5 . 9 0 1 , 1 4 6 , 2 0 1 . 9 5 1 , 2 3 4 , 5 3 8 . 4 3 ( 1 5 6 , 2 8 2 . 2 5 ) 9 3 4 , 6 4 9 . 2 1 9 0 3 , 6 3 6 . 4 3 8 4 6 , 0 7 5 . 7 7 7 4 7 , 9 1 9 . 4 5

C u m u l a t i v e ( 3 , 4 9 1 , 9 5 2 . 3 6 ) ( 2 , 4 6 2 , 4 7 7 . 3 8 ) ( 1 , 3 8 2 , 8 4 1 . 4 8 ) ( 2 3 6 , 6 3 9 . 5 3 ) 9 9 7 , 8 9 8 . 9 0 8 4 1 , 6 1 6 . 6 4 1 , 7 7 6 , 2 6 5 . 8 6 2 , 6 7 9 , 9 0 2 . 2 8 3 , 5 2 5 , 9 7 8 . 0 5 4 , 2 7 3 , 8 9 7 . 5 1

R O I - 6 9 . 8 4 % - 4 3 . 3 1 % - 2 0 . 9 7 % - 3 . 0 3 % 1 0 . 6 1 % 7 . 3 0 % 1 3 . 9 7 % 1 9 . 0 6 % 2 2 . 6 7 % 2 4 . 9 4 %

I R R - 3 3 % - 1 5 % - 3 % 5 % 1 0 %




P a g e 1 0 o f 2 2

C a r L o a n s C a s h F l o w



1 . 1 P e r s o n a l L o a n s 5 , 0 0 0 , 0 0 0 . 0 0 2 1 2 , 5 7 3 . 2 1 2 5 9 , 8 7 3 . 8 6 3 1 7 , 6 9 9 . 6 0 3 8 8 , 3 9 2 . 4 1 4 7 4 , 8 1 5 . 4 0 5 8 0 , 4 6 8 . 7 8 7 0 9 , 6 3 1 . 5 9 8 6 7 , 5 3 5 . 0 1 1 , 0 6 0 , 5 7 4 . 2 5

T o t a l 5 , 0 0 0 , 0 0 0 . 0 0 2 1 2 , 5 7 3 . 2 1 2 5 9 , 8 7 3 . 8 6 3 1 7 , 6 9 9 . 6 0 3 8 8 , 3 9 2 . 4 1 4 7 4 , 8 1 5 . 4 0 5 8 0 , 4 6 8 . 7 8 7 0 9 , 6 3 1 . 5 9 8 6 7 , 5 3 5 . 0 1 1 , 0 6 0 , 5 7 4 . 2 5

C u m u l a t i v e 5 , 0 0 0 , 0 0 0 . 0 0 5 , 2 1 2 , 5 7 3 . 2 1 5 , 4 7 2 , 4 4 7 . 0 6 5 , 7 9 0 , 1 4 6 . 6 6 6 , 1 7 8 , 5 3 9 . 0 7 6 , 6 5 3 , 3 5 4 . 4 7 7 , 2 3 3 , 8 2 3 . 2 6 7 , 9 4 3 , 4 5 4 . 8 4 8 , 8 1 0 , 9 8 9 . 8 5 9 , 8 7 1 , 5 6 4 . 0 9


2 . 1 P r i n c i p a l R e p a y m e n t 2 1 2 , 5 7 3 . 2 1 2 5 9 , 8 7 3 . 8 6 3 1 7 , 6 9 9 . 6 0 3 8 8 , 3 9 2 . 4 1 4 7 4 , 8 1 5 . 4 0 5 8 0 , 4 6 8 . 7 8 7 0 9 , 6 3 1 . 5 9 8 6 7 , 5 3 5 . 0 1 1 , 0 6 0 , 5 7 4 . 2 5 1 , 2 9 6 , 5 6 7 . 5 4


T o t a l 1 , 0 3 0 , 1 2 6 . 3 7 1 , 0 7 3 , 9 2 1 . 8 2 1 , 1 2 7 , 4 6 2 . 4 0 1 , 1 9 2 , 9 1 6 . 5 5 1 , 2 7 2 , 9 3 5 . 2 0 1 , 3 7 0 , 7 5 9 . 1 7 1 , 4 9 0 , 3 5 0 . 4 1 1 , 6 3 6 , 5 5 2 . 4 5 1 , 8 1 5 , 2 8 6 . 5 9 2 , 0 3 3 , 7 9 1 . 6 9

C u m u l a t i v e 1 , 0 3 0 , 1 2 6 . 3 7 2 , 1 0 4 , 0 4 8 . 1 8 3 , 2 3 1 , 5 1 0 . 5 9 4 , 4 2 4 , 4 2 7 . 1 3 5 , 6 9 7 , 3 6 2 . 3 3 7 , 0 6 8 , 1 2 1 . 5 0 8 , 5 5 8 , 4 7 1 . 9 2 1 0 , 1 9 5 , 0 2 4 . 3 7 1 2 , 0 1 0 , 3 1 0 . 9 6 1 4 , 0 4 4 , 1 0 2 . 6 5

N e t C a s h ( 3 , 9 6 9 , 8 7 3 . 6 3 ) 8 6 1 , 3 4 8 . 6 1 8 6 7 , 5 8 8 . 5 4 8 7 5 , 2 1 6 . 9 5 8 8 4 , 5 4 2 . 7 9 8 9 5 , 9 4 3 . 7 7 9 0 9 , 8 8 1 . 6 3 9 2 6 , 9 2 0 . 8 7 9 4 7 , 7 5 1 . 5 9 9 7 3 , 2 1 7 . 4 4

C u m u l a t i v e ( 3 , 9 6 9 , 8 7 3 . 6 3 ) ( 3 , 1 0 8 , 5 2 5 . 0 2 ) ( 2 , 2 4 0 , 9 3 6 . 4 8 ) ( 1 , 3 6 5 , 7 1 9 . 5 3 ) ( 4 8 1 , 1 7 6 . 7 3 ) 4 1 4 , 7 6 7 . 0 3 1 , 3 2 4 , 6 4 8 . 6 6 2 , 2 5 1 , 5 6 9 . 5 3 3 , 1 9 9 , 3 2 1 . 1 1 4 , 1 7 2 , 5 3 8 . 5 6

R O I - 7 9 . 4 0 % - 5 9 . 6 4 % - 4 0 . 9 5 % - 2 3 . 5 9 % - 7 . 7 9 % 6 . 2 3 % 1 8 . 3 1 % 2 8 . 3 4 % 3 6 . 3 1 % 4 2 . 2 7 %

I R R - 1 8 . 1 4 % - 7 . 1 8 % 0 . 2 6 %




P a g e 1 1 o f 2 2

H o u s i n g L o a n s C a s h F l o w



1 . 1 P e r s o n a l L o a n s 5 , 0 0 0 , 0 0 0 . 0 0 1 5 2 , 3 2 7 . 9 1 1 8 2 , 8 6 4 . 4 1 2 1 9 , 5 2 2 . 4 3 2 6 3 , 5 2 9 . 1 3 3 1 6 , 3 5 7 . 6 5 3 7 9 , 7 7 6 . 4 7 4 5 5 , 9 0 8 . 5 8 5 4 7 , 3 0 2 . 5 5 6 5 7 , 0 1 7 . 8 8

T o t a l 5 , 0 0 0 , 0 0 0 . 0 0 1 5 2 , 3 2 7 . 9 1 1 8 2 , 8 6 4 . 4 1 2 1 9 , 5 2 2 . 4 3 2 6 3 , 5 2 9 . 1 3 3 1 6 , 3 5 7 . 6 5 3 7 9 , 7 7 6 . 4 7 4 5 5 , 9 0 8 . 5 8 5 4 7 , 3 0 2 . 5 5 6 5 7 , 0 1 7 . 8 8

C u m u l a t i v e 5 , 0 0 0 , 0 0 0 . 0 0 5 , 1 5 2 , 3 2 7 . 9 1 5 , 3 3 5 , 1 9 2 . 3 2 5 , 5 5 4 , 7 1 4 . 7 6 5 , 8 1 8 , 2 4 3 . 8 8 6 , 1 3 4 , 6 0 1 . 5 3 6 , 5 1 4 , 3 7 7 . 9 9 6 , 9 7 0 , 2 8 6 . 5 7 7 , 5 1 7 , 5 8 9 . 1 2 8 , 1 7 4 , 6 0 7 . 0 0


2 . 1 P r i n c i p a l R e p a y m e n t 1 5 2 , 3 2 7 . 9 1 1 8 2 , 8 6 4 . 4 1 2 1 9 , 5 2 2 . 4 3 2 6 3 , 5 2 9 . 1 3 3 1 6 , 3 5 7 . 6 5 3 7 9 , 7 7 6 . 4 7 4 5 5 , 9 0 8 . 5 8 5 4 7 , 3 0 2 . 5 5 6 5 7 , 0 1 7 . 8 8 7 8 8 , 7 2 7 . 3 5


T o t a l 9 3 1 , 7 8 3 . 6 8 9 6 0 , 1 7 1 . 0 1 9 9 4 , 2 4 9 . 0 3 1 , 0 3 5 , 1 5 8 . 5 1 1 , 0 8 4 , 2 6 8 . 9 4 1 , 1 4 3 , 2 2 4 . 3 2 1 , 2 1 3 , 9 9 8 . 2 2 1 , 2 9 8 , 9 5 9 . 8 5 1 , 4 0 0 , 9 5 3 . 3 7 1 , 5 2 3 , 3 9 3 . 0 8

C u m u l a t i v e 9 3 1 , 7 8 3 . 6 8 1 , 8 9 1 , 9 5 4 . 6 9 2 , 8 8 6 , 2 0 3 . 7 2 3 , 9 2 1 , 3 6 2 . 2 3 5 , 0 0 5 , 6 3 1 . 1 7 6 , 1 4 8 , 8 5 5 . 4 9 7 , 3 6 2 , 8 5 3 . 7 0 8 , 6 6 1 , 8 1 3 . 5 6 1 0 , 0 6 2 , 7 6 6 . 9 3 1 1 , 5 8 6 , 1 6 0 . 0 1

N e t C a s h ( 4 , 0 6 8 , 2 1 6 . 3 2 ) 8 0 7 , 8 4 3 . 1 0 8 1 1 , 3 8 4 . 6 1 8 1 5 , 6 3 6 . 0 8 8 2 0 , 7 3 9 . 8 1 8 2 6 , 8 6 6 . 6 7 8 3 4 , 2 2 1 . 7 5 8 4 3 , 0 5 1 . 2 8 8 5 3 , 6 5 0 . 8 2 8 6 6 , 3 7 5 . 2 0

C u m u l a t i v e ( 4 , 0 6 8 , 2 1 6 . 3 2 ) ( 3 , 2 6 0 , 3 7 3 . 2 2 ) ( 2 , 4 4 8 , 9 8 8 . 6 0 ) ( 1 , 6 3 3 , 3 5 2 . 5 3 ) ( 8 1 2 , 6 1 2 . 7 1 ) 1 4 , 2 5 3 . 9 6 8 4 8 , 4 7 5 . 7 1 1 , 6 9 1 , 5 2 6 . 9 9 2 , 5 4 5 , 1 7 7 . 8 1 3 , 4 1 1 , 5 5 3 . 0 1

R O I - 8 1 . 3 6 % - 6 3 . 2 8 % - 4 5 . 9 0 % - 2 9 . 4 0 % - 1 3 . 9 7 % 0 . 2 3 % 1 3 . 0 2 % 2 4 . 2 7 % 3 3 . 8 6 % 4 1 . 7 3 %

I R R - 2 6 . 4 2 % - 1 3 . 7 4 % - 5 . 3 0 %




P a g e 1 2 o f 2 2

P e r s o n a l & C a r L o a n s – N e t R e v e n u e

C r e d i t F a c i l i t i e s Y e a r 1 Y e a r 2 Y e a r 3 Y e a r 4 Y e a r 5 Y e a r 6 Y e a r 7 Y e a r 8 Y e a r 9 Y e a r 1 0

T o t a l R e v e n u e ( S a l e s )

P e r s o n a l L o a n s 1 , 5 0 8 , 0 4 7 . 6 4 1 , 7 1 4 , 7 2 5 . 8 2 1 , 9 8 8 , 9 9 8 . 1 3 2 , 3 5 2 , 9 7 1 . 2 5 2 , 8 3 5 , 9 8 1 . 8 4 1 , 9 6 8 , 9 1 3 . 4 8 2 , 1 1 9 , 6 3 9 . 7 3 2 , 2 5 2 , 0 6 6 . 8 9 2 , 3 3 8 , 1 0 3 . 5 8 2 , 3 3 3 , 2 4 1 . 1 0

C a r L o a n 1 , 0 3 0 , 1 2 6 . 3 7 1 , 0 7 3 , 9 2 1 . 8 2 1 , 1 2 7 , 4 6 2 . 4 0 1 , 1 9 2 , 9 1 6 . 5 5 1 , 2 7 2 , 9 3 5 . 2 0 1 , 3 7 0 , 7 5 9 . 1 7 1 , 4 9 0 , 3 5 0 . 4 1 1 , 6 3 6 , 5 5 2 . 4 5 1 , 8 1 5 , 2 8 6 . 5 9 2 , 0 3 3 , 7 9 1 . 6 9

H o u s i n g L o a n s 9 3 1 , 7 8 3 . 6 8 9 6 0 , 1 7 1 . 0 1 9 9 4 , 2 4 9 . 0 3 1 , 0 3 5 , 1 5 8 . 5 1 1 , 0 8 4 , 2 6 8 . 9 4 1 , 1 4 3 , 2 2 4 . 3 2 1 , 2 1 3 , 9 9 8 . 2 2 1 , 2 9 8 , 9 5 9 . 8 5 1 , 4 0 0 , 9 5 3 . 3 7 1 , 5 2 3 , 3 9 3 . 0 8

T o t a l 3 , 4 6 9 , 9 5 7 . 6 8 3 , 7 4 8 , 8 1 8 . 6 5 4 , 1 1 0 , 7 0 9 . 5 6 4 , 5 8 1 , 0 4 6 . 3 1 5 , 1 9 3 , 1 8 5 . 9 7 4 , 4 8 2 , 8 9 6 . 9 7 4 , 8 2 3 , 9 8 8 . 3 6 5 , 1 8 7 , 5 7 9 . 2 0 5 , 5 5 4 , 3 4 3 . 5 4 5 , 8 9 0 , 4 2 5 . 8 7

C u m u l a t i v e 3 , 4 6 9 , 9 5 7 . 6 8 7 , 2 1 8 , 7 7 6 . 3 3 1 1 , 3 2 9 , 4 8 5 . 8 9 1 5 , 9 1 0 , 5 3 2 . 1 9 2 1 , 1 0 3 , 7 1 8 . 1 7 2 5 , 5 8 6 , 6 1 5 . 1 4 3 0 , 4 1 0 , 6 0 3 . 5 0 3 5 , 5 9 8 , 1 8 2 . 7 0 4 1 , 1 5 2 , 5 2 6 . 2 4 4 7 , 0 4 2 , 9 5 2 . 1 0

C o s t o f S a l e s

P e r s o n a l L o a n s - P r i n c i p a l 6 8 5 , 2 5 0 . 8 3 9 0 9 , 3 6 2 . 2 3 1 , 2 0 6 , 7 6 9 . 3 0 1 , 6 0 1 , 4 4 3 . 4 0 2 , 1 2 5 , 1 9 5 . 7 3 1 , 1 8 4 , 9 9 0 . 5 2 1 , 3 4 8 , 4 3 0 . 4 7 1 , 4 9 2 , 0 2 7 . 8 1 1 , 5 8 5 , 3 2 1 . 6 5 1 , 5 8 0 , 0 4 9 . 0 3

P e r s o n a l L o a n s - D e p o s i t s ( 4 % ) 1 7 3 , 2 2 0 . 3 8 1 6 9 , 5 5 0 . 2 3 1 6 4 , 6 7 9 . 7 5 1 5 8 , 2 1 6 . 3 9 1 4 9 , 6 3 9 . 1 8 1 6 5 , 0 3 6 . 4 1 1 6 2 , 3 5 9 . 8 4 1 6 0 , 0 0 8 . 2 3 1 5 8 , 4 8 0 . 4 1 1 5 8 , 5 6 6 . 7 5

C a r L o a n s - P r i n c i p a l 2 1 2 , 5 7 3 . 2 1 2 5 9 , 8 7 3 . 8 6 3 1 7 , 6 9 9 . 6 0 3 8 8 , 3 9 2 . 4 1 4 7 4 , 8 1 5 . 4 0 5 8 0 , 4 6 8 . 7 8 7 0 9 , 6 3 1 . 5 9 8 6 7 , 5 3 5 . 0 1 1 , 0 6 0 , 5 7 4 . 2 5 1 , 2 9 6 , 5 6 7 . 5 4

C a r L o a n s - D e p o s i t s ( 4 % ) 1 8 1 , 6 7 8 . 4 8 1 8 0 , 8 9 9 . 5 5 1 7 9 , 9 4 7 . 2 9 1 7 8 , 7 8 3 . 1 4 1 7 7 , 3 5 9 . 9 5 1 7 5 , 6 2 0 . 0 9 1 7 3 , 4 9 3 . 0 7 1 7 0 , 8 9 2 . 7 7 1 6 7 , 7 1 3 . 8 5 1 6 3 , 8 2 7 . 5 9

C a r L o a n s - P r i n c i p a l 1 5 2 , 3 2 7 . 9 1 1 8 2 , 8 6 4 . 4 1 2 1 9 , 5 2 2 . 4 3 2 6 3 , 5 2 9 . 1 3 3 1 6 , 3 5 7 . 6 5 3 7 9 , 7 7 6 . 4 7 4 5 5 , 9 0 8 . 5 8 5 4 7 , 3 0 2 . 5 5 6 5 7 , 0 1 7 . 8 8 7 8 8 , 7 2 7 . 3 5

C a r L o a n s - D e p o s i t s ( 4 % ) 1 8 3 , 4 0 1 . 3 6 1 8 2 , 8 9 5 . 6 7 1 8 2 , 2 8 8 . 6 1 1 8 1 , 5 5 9 . 8 6 1 8 0 , 6 8 5 . 0 1 1 7 9 , 6 3 4 . 7 9 1 7 8 , 3 7 4 . 0 3 1 7 6 , 8 6 0 . 5 4 1 7 5 , 0 4 3 . 6 5 1 7 2 , 8 6 2 . 5 2

T o t a l 1 , 5 8 8 , 4 5 2 . 1 7 1 , 8 8 5 , 4 4 5 . 9 5 2 , 2 7 0 , 9 0 6 . 9 8 2 , 7 7 1 , 9 2 4 . 3 2 3 , 4 2 4 , 0 5 2 . 9 3 2 , 6 6 5 , 5 2 7 . 0 6 3 , 0 2 8 , 1 9 7 . 5 8 3 , 4 1 4 , 6 2 6 . 9 0 3 , 8 0 4 , 1 5 1 . 6 8 4 , 1 6 0 , 6 0 0 . 7 8

C u m u l a t i v e 1 , 5 8 8 , 4 5 2 . 1 7 3 , 4 7 3 , 8 9 8 . 1 1 5 , 7 4 4 , 8 0 5 . 1 0 8 , 5 1 6 , 7 2 9 . 4 2 1 1 , 9 4 0 , 7 8 2 . 3 5 1 4 , 6 0 6 , 3 0 9 . 4 0 1 7 , 6 3 4 , 5 0 6 . 9 8 2 1 , 0 4 9 , 1 3 3 . 8 8 2 4 , 8 5 3 , 2 8 5 . 5 6 2 9 , 0 1 3 , 8 8 6 . 3 5

N e t R e v e n u e ( S a l e s ) 1 , 8 8 1 , 5 0 5 . 5 2 1 , 8 6 3 , 3 7 2 . 7 0 1 , 8 3 9 , 8 0 2 . 5 7 1 , 8 0 9 , 1 2 1 . 9 8 1 , 7 6 9 , 1 3 3 . 0 5 1 , 8 1 7 , 3 6 9 . 9 1 1 , 7 9 5 , 7 9 0 . 7 8 1 , 7 7 2 , 9 5 2 . 3 0 1 , 7 5 0 , 1 9 1 . 8 6 1 , 7 2 9 , 8 2 5 . 0 8

C u m u l a t i v e 1 , 8 8 1 , 5 0 5 . 5 2 3 , 7 4 4 , 8 7 8 . 2 2 5 , 5 8 4 , 6 8 0 . 7 9 7 , 3 9 3 , 8 0 2 . 7 7 9 , 1 6 2 , 9 3 5 . 8 2 1 0 , 9 8 0 , 3 0 5 . 7 3 1 2 , 7 7 6 , 0 9 6 . 5 1 1 4 , 5 4 9 , 0 4 8 . 8 1 1 6 , 2 9 9 , 2 4 0 . 6 7 1 8 , 0 2 9 , 0 6 5 . 7 6



Page 13 of 22

Appendix

Example of Personal Loan Annual Interest Rate 19.00%

Monthly Rate 1.46%

Loan Amount 5,000.00

Term of loan (months) 60.00

Payment (125.67)

Month Principal balance Principal payment Interest Payment

1 5,000.00 (52.66) (73.01) (125.67)

2 4,947.34 (53.43) (72.24) (125.67)

3 4,893.91 (54.21) (71.46) (125.67)

4 4,839.70 (55.00) (70.67) (125.67)

5 4,784.69 (55.81) (69.86) (125.67)

6 4,728.89 (56.62) (69.05) (125.67)

7 4,672.27 (57.45) (68.22) (125.67)

8 4,614.82 (58.29) (67.38) (125.67)

9 4,556.53 (59.14) (66.53) (125.67)

10 4,497.39 (60.00) (65.67) (125.67)

11 4,437.39 (60.88) (64.79) (125.67)

12 4,376.52 (61.77) (63.90) (125.67)

13 4,314.75 (62.67) (63.00) (125.67)

14 4,252.08 (63.58) (62.09) (125.67)

15 4,188.50 (64.51) (61.16) (125.67)

16 4,123.99 (65.45) (60.22) (125.67)

17 4,058.53 (66.41) (59.26) (125.67)

18 3,992.12 (67.38) (58.29) (125.67)

19 3,924.74 (68.36) (57.31) (125.67)

20 3,856.38 (69.36) (56.31) (125.67)

21 3,787.02 (70.37) (55.30) (125.67)

22 3,716.65 (71.40) (54.27) (125.67)

23 3,645.25 (72.44) (53.23) (125.67)

24 3,572.80 (73.50) (52.17) (125.67)

25 3,499.30 (74.57) (51.10) (125.67)

26 3,424.73 (75.66) (50.01) (125.67)

27 3,349.06 (76.77) (48.90) (125.67)

28 3,272.29 (77.89) (47.78) (125.67)

29 3,194.40 (79.03) (46.64) (125.67)

30 3,115.38 (80.18) (45.49) (125.67)

31 3,035.20 (81.35) (44.32) (125.67)

32 2,953.84 (82.54) (43.13) (125.67)

33 2,871.30 (83.74) (41.93) (125.67)

34 2,787.56 (84.97) (40.70) (125.67)

35 2,702.59 (86.21) (39.46) (125.67)

36 2,616.38 (87.47) (38.20) (125.67)



Page 14 of 22

37 2,528.92 (88.74) (36.93) (125.67)

38 2,440.17 (90.04) (35.63) (125.67)

39 2,350.13 (91.35) (34.32) (125.67)

40 2,258.78 (92.69) (32.98) (125.67)

41 2,166.09 (94.04) (31.63) (125.67)

42 2,072.05 (95.42) (30.26) (125.67)

43 1,976.63 (96.81) (28.86) (125.67)

44 1,879.82 (98.22) (27.45) (125.67)

45 1,781.60 (99.66) (26.01) (125.67)

46 1,681.95 (101.11) (24.56) (125.67)

47 1,580.83 (102.59) (23.08) (125.67)

48 1,478.25 (104.09) (21.58) (125.67)

49 1,374.16 (105.61) (20.07) (125.67)

50 1,268.55 (107.15) (18.52) (125.67)

51 1,161.41 (108.71) (16.96) (125.67)

52 1,052.70 (110.30) (15.37) (125.67)

53 942.40 (111.91) (13.76) (125.67)

54 830.49 (113.54) (12.13) (125.67)

55 716.94 (115.20) (10.47) (125.67)

56 601.74 (116.88) (8.79) (125.67)

57 484.86 (118.59) (7.08) (125.67)

58 366.26 (120.32) (5.35) (125.67)

59 245.94 (122.08) (3.59) (125.67)

60 123.86 (123.86) (1.81) (125.67)



Page 15 of 22

Example of Car Loan Annual Interest Rate 18.00%

Monthly Rate 1.39%



Payment (171.69)


1 10,000.00 (32.80) (138.88) (171.69)

2 9,967.20 (33.26) (138.43) (171.69)

3 9,933.94 (33.72) (137.97) (171.69)

4 9,900.22 (34.19) (137.50) (171.69)

5 9,866.03 (34.66) (137.02) (171.69)

6 9,831.36 (35.15) (136.54) (171.69)

7 9,796.22 (35.63) (136.05) (171.69)

8 9,760.58 (36.13) (135.56) (171.69)

9 9,724.46 (36.63) (135.06) (171.69)

10 9,687.83 (37.14) (134.55) (171.69)

11 9,650.69 (37.65) (134.03) (171.69)

12 9,613.03 (38.18) (133.51) (171.69)

13 9,574.85 (38.71) (132.98) (171.69)

14 9,536.15 (39.25) (132.44) (171.69)

15 9,496.90 (39.79) (131.90) (171.69)

16 9,457.11 (40.34) (131.34) (171.69)

17 9,416.77 (40.90) (130.78) (171.69)

18 9,375.86 (41.47) (130.22) (171.69)

19 9,334.39 (42.05) (129.64) (171.69)

20 9,292.34 (42.63) (129.06) (171.69)

21 9,249.71 (43.22) (128.46) (171.69)

22 9,206.49 (43.82) (127.86) (171.69)

23 9,162.66 (44.43) (127.26) (171.69)

24 9,118.23 (45.05) (126.64) (171.69)

25 9,073.18 (45.68) (126.01) (171.69)

26 9,027.51 (46.31) (125.38) (171.69)

27 8,981.20 (46.95) (124.73) (171.69)

28 8,934.24 (47.61) (124.08) (171.69)

29 8,886.64 (48.27) (123.42) (171.69)

30 8,838.37 (48.94) (122.75) (171.69)

31 8,789.43 (49.62) (122.07) (171.69)

32 8,739.82 (50.31) (121.38) (171.69)

33 8,689.51 (51.00) (120.68) (171.69)

34 8,638.51 (51.71) (119.98) (171.69)

35 8,586.80 (52.43) (119.26) (171.69)

36 8,534.37 (53.16) (118.53) (171.69)

37 8,481.21 (53.90) (117.79) (171.69)



Page 16 of 22

38 8,427.31 (54.65) (117.04) (171.69)

39 8,372.66 (55.40) (116.28) (171.69)

40 8,317.26 (56.17) (115.51) (171.69)

41 8,261.09 (56.95) (114.73) (171.69)

42 8,204.13 (57.75) (113.94) (171.69)

43 8,146.39 (58.55) (113.14) (171.69)

44 8,087.84 (59.36) (112.33) (171.69)

45 8,028.48 (60.18) (111.50) (171.69)

46 7,968.29 (61.02) (110.67) (171.69)

47 7,907.27 (61.87) (109.82) (171.69)

48 7,845.41 (62.73) (108.96) (171.69)

49 7,782.68 (63.60) (108.09) (171.69)

50 7,719.08 (64.48) (107.21) (171.69)

51 7,654.60 (65.38) (106.31) (171.69)

52 7,589.22 (66.29) (105.40) (171.69)

53 7,522.93 (67.21) (104.48) (171.69)

54 7,455.73 (68.14) (103.55) (171.69)

55 7,387.59 (69.09) (102.60) (171.69)

56 7,318.50 (70.05) (101.64) (171.69)

57 7,248.46 (71.02) (100.67) (171.69)

58 7,177.44 (72.00) (99.68) (171.69)

59 7,105.44 (73.00) (98.68) (171.69)

60 7,032.43 (74.02) (97.67) (171.69)

61 6,958.41 (75.05) (96.64) (171.69)

62 6,883.37 (76.09) (95.60) (171.69)

63 6,807.28 (77.15) (94.54) (171.69)

64 6,730.13 (78.22) (93.47) (171.69)

65 6,651.92 (79.30) (92.38) (171.69)

66 6,572.61 (80.40) (91.28) (171.69)

67 6,492.21 (81.52) (90.17) (171.69)

68 6,410.69 (82.65) (89.03) (171.69)

69 6,328.03 (83.80) (87.89) (171.69)

70 6,244.23 (84.97) (86.72) (171.69)

71 6,159.27 (86.15) (85.54) (171.69)

72 6,073.12 (87.34) (84.35) (171.69)

73 5,985.78 (88.55) (83.13) (171.69)

74 5,897.23 (89.78) (81.90) (171.69)

75 5,807.44 (91.03) (80.66) (171.69)

76 5,716.41 (92.30) (79.39) (171.69)

77 5,624.12 (93.58) (78.11) (171.69)

78 5,530.54 (94.88) (76.81) (171.69)

79 5,435.66 (96.19) (75.49) (171.69)

80 5,339.47 (97.53) (74.16) (171.69)

81 5,241.93 (98.89) (72.80) (171.69)

82 5,143.05 (100.26) (71.43) (171.69)

83 5,042.79 (101.65) (70.04) (171.69)



Page 17 of 22

84 4,941.14 (103.06) (68.62) (171.69)

85 4,838.08 (104.49) (67.19) (171.69)

86 4,733.58 (105.95) (65.74) (171.69)

87 4,627.64 (107.42) (64.27) (171.69)

88 4,520.22 (108.91) (62.78) (171.69)

89 4,411.31 (110.42) (61.27) (171.69)

90 4,300.89 (111.96) (59.73) (171.69)

91 4,188.93 (113.51) (58.18) (171.69)

92 4,075.42 (115.09) (56.60) (171.69)

93 3,960.34 (116.68) (55.00) (171.69)

94 3,843.65 (118.31) (53.38) (171.69)

95 3,725.35 (119.95) (51.74) (171.69)

96 3,605.40 (121.61) (50.07) (171.69)

97 3,483.78 (123.30) (48.38) (171.69)

98 3,360.48 (125.02) (46.67) (171.69)

99 3,235.46 (126.75) (44.94) (171.69)

100 3,108.71 (128.51) (43.18) (171.69)

101 2,980.20 (130.30) (41.39) (171.69)

102 2,849.90 (132.11) (39.58) (171.69)

103 2,717.79 (133.94) (37.75) (171.69)

104 2,583.85 (135.80) (35.89) (171.69)

105 2,448.05 (137.69) (34.00) (171.69)

106 2,310.36 (139.60) (32.09) (171.69)

107 2,170.76 (141.54) (30.15) (171.69)

108 2,029.22 (143.51) (28.18) (171.69)

109 1,885.72 (145.50) (26.19) (171.69)

110 1,740.22 (147.52) (24.17) (171.69)

111 1,592.70 (149.57) (22.12) (171.69)

112 1,443.13 (151.64) (20.04) (171.69)

113 1,291.49 (153.75) (17.94) (171.69)

114 1,137.74 (155.89) (15.80) (171.69)

115 981.85 (158.05) (13.64) (171.69)

116 823.80 (160.25) (11.44) (171.69)

117 663.55 (162.47) (9.22) (171.69)

118 501.08 (164.73) (6.96) (171.69)

119 336.35 (167.02) (4.67) (171.69)

120 169.34 (169.34) (2.35) (171.69)



Page 18 of 22

Example of House Loan Annual Interest Rate 17.00%

Monthly Rate 1.32%



Payment (776.49)


1 50,000.00 (118.01) (658.48) (776.49)

2 49,881.99 (119.56) (656.93) (776.49)

3 49,762.43 (121.13) (655.35) (776.49)

4 49,641.30 (122.73) (653.76) (776.49)

5 49,518.57 (124.35) (652.14) (776.49)

6 49,394.22 (125.98) (650.50) (776.49)

7 49,268.24 (127.64) (648.84) (776.49)

8 49,140.60 (129.32) (647.16) (776.49)

9 49,011.27 (131.03) (645.46) (776.49)

10 48,880.25 (132.75) (643.73) (776.49)

11 48,747.49 (134.50) (641.99) (776.49)

12 48,612.99 (136.27) (640.21) (776.49)

13 48,476.72 (138.07) (638.42) (776.49)

14 48,338.65 (139.89) (636.60) (776.49)

15 48,198.77 (141.73) (634.76) (776.49)

16 48,057.04 (143.59) (632.89) (776.49)

17 47,913.45 (145.48) (631.00) (776.49)

18 47,767.96 (147.40) (629.09) (776.49)

19 47,620.56 (149.34) (627.14) (776.49)

20 47,471.22 (151.31) (625.18) (776.49)

21 47,319.91 (153.30) (623.18) (776.49)

22 47,166.61 (155.32) (621.17) (776.49)

23 47,011.29 (157.37) (619.12) (776.49)

24 46,853.92 (159.44) (617.05) (776.49)

25 46,694.48 (161.54) (614.95) (776.49)

26 46,532.95 (163.67) (612.82) (776.49)

27 46,369.28 (165.82) (610.67) (776.49)

28 46,203.46 (168.00) (608.48) (776.49)

29 46,035.45 (170.22) (606.27) (776.49)

30 45,865.24 (172.46) (604.03) (776.49)

31 45,692.78 (174.73) (601.76) (776.49)

32 45,518.05 (177.03) (599.45) (776.49)

33 45,341.02 (179.36) (597.12) (776.49)

34 45,161.65 (181.72) (594.76) (776.49)

35 44,979.93 (184.12) (592.37) (776.49)

36 44,795.81 (186.54) (589.94) (776.49)

37 44,609.27 (189.00) (587.49) (776.49)



Page 19 of 22

38 44,420.27 (191.49) (585.00) (776.49)

39 44,228.78 (194.01) (582.48) (776.49)

40 44,034.77 (196.57) (579.92) (776.49)

41 43,838.20 (199.15) (577.33) (776.49)

42 43,639.05 (201.78) (574.71) (776.49)

43 43,437.27 (204.43) (572.05) (776.49)

44 43,232.84 (207.13) (569.36) (776.49)

45 43,025.71 (209.85) (566.63) (776.49)

46 42,815.86 (212.62) (563.87) (776.49)

47 42,603.24 (215.42) (561.07) (776.49)

48 42,387.82 (218.26) (558.23) (776.49)

49 42,169.56 (221.13) (555.36) (776.49)

50 41,948.43 (224.04) (552.44) (776.49)

51 41,724.39 (226.99) (549.49) (776.49)

52 41,497.40 (229.98) (546.50) (776.49)

53 41,267.42 (233.01) (543.48) (776.49)

54 41,034.41 (236.08) (540.41) (776.49)

55 40,798.33 (239.19) (537.30) (776.49)

56 40,559.14 (242.34) (534.15) (776.49)

57 40,316.80 (245.53) (530.96) (776.49)

58 40,071.27 (248.76) (527.72) (776.49)

59 39,822.51 (252.04) (524.45) (776.49)

60 39,570.47 (255.36) (521.13) (776.49)

61 39,315.11 (258.72) (517.76) (776.49)

62 39,056.39 (262.13) (514.36) (776.49)

63 38,794.26 (265.58) (510.91) (776.49)

64 38,528.68 (269.08) (507.41) (776.49)

65 38,259.60 (272.62) (503.86) (776.49)

66 37,986.98 (276.21) (500.27) (776.49)

67 37,710.77 (279.85) (496.64) (776.49)

68 37,430.92 (283.54) (492.95) (776.49)

69 37,147.38 (287.27) (489.22) (776.49)

70 36,860.11 (291.05) (485.43) (776.49)

71 36,569.06 (294.89) (481.60) (776.49)

72 36,274.17 (298.77) (477.72) (776.49)

73 35,975.40 (302.70) (473.78) (776.49)

74 35,672.70 (306.69) (469.80) (776.49)

75 35,366.01 (310.73) (465.76) (776.49)

76 35,055.28 (314.82) (461.66) (776.49)

77 34,740.45 (318.97) (457.52) (776.49)

78 34,421.49 (323.17) (453.32) (776.49)

79 34,098.32 (327.42) (449.06) (776.49)

80 33,770.89 (331.74) (444.75) (776.49)

81 33,439.15 (336.11) (440.38) (776.49)

82 33,103.05 (340.53) (435.95) (776.49)

83 32,762.52 (345.02) (431.47) (776.49)



Page 20 of 22

84 32,417.50 (349.56) (426.93) (776.49)

85 32,067.94 (354.16) (422.32) (776.49)

86 31,713.78 (358.83) (417.66) (776.49)

87 31,354.95 (363.55) (412.93) (776.49)

88 30,991.39 (368.34) (408.14) (776.49)

89 30,623.05 (373.19) (403.29) (776.49)

90 30,249.86 (378.11) (398.38) (776.49)

91 29,871.75 (383.09) (393.40) (776.49)

92 29,488.66 (388.13) (388.35) (776.49)

93 29,100.53 (393.24) (383.24) (776.49)

94 28,707.29 (398.42) (378.06) (776.49)

95 28,308.87 (403.67) (372.82) (776.49)

96 27,905.20 (408.99) (367.50) (776.49)

97 27,496.21 (414.37) (362.11) (776.49)

98 27,081.84 (419.83) (356.66) (776.49)

99 26,662.01 (425.36) (351.13) (776.49)

100 26,236.65 (430.96) (345.53) (776.49)

101 25,805.69 (436.64) (339.85) (776.49)

102 25,369.06 (442.39) (334.10) (776.49)

103 24,926.67 (448.21) (328.27) (776.49)

104 24,478.46 (454.11) (322.37) (776.49)

105 24,024.34 (460.10) (316.39) (776.49)

106 23,564.25 (466.15) (310.33) (776.49)

107 23,098.09 (472.29) (304.19) (776.49)

108 22,625.80 (478.51) (297.97) (776.49)

109 22,147.29 (484.82) (291.67) (776.49)

110 21,662.47 (491.20) (285.29) (776.49)

111 21,171.27 (497.67) (278.82) (776.49)

112 20,673.60 (504.22) (272.26) (776.49)

113 20,169.38 (510.86) (265.62) (776.49)

114 19,658.52 (517.59) (258.90) (776.49)

115 19,140.92 (524.41) (252.08) (776.49)

116 18,616.52 (531.31) (245.17) (776.49)

117 18,085.20 (538.31) (238.18) (776.49)

118 17,546.89 (545.40) (231.09) (776.49)

119 17,001.49 (552.58) (223.90) (776.49)

120 16,448.91 (559.86) (216.63) (776.49)

121 15,889.05 (567.23) (209.25) (776.49)

122 15,321.81 (574.70) (201.78) (776.49)

123 14,747.11 (582.27) (194.21) (776.49)

124 14,164.84 (589.94) (186.55) (776.49)

125 13,574.89 (597.71) (178.78) (776.49)

126 12,977.18 (605.58) (170.90) (776.49)

127 12,371.60 (613.56) (162.93) (776.49)

128 11,758.05 (621.64) (154.85) (776.49)

129 11,136.41 (629.82) (146.66) (776.49)



Page 21 of 22

130 10,506.58 (638.12) (138.37) (776.49)

131 9,868.46 (646.52) (129.96) (776.49)

132 9,221.94 (655.04) (121.45) (776.49)

133 8,566.91 (663.66) (112.82) (776.49)

134 7,903.24 (672.40) (104.08) (776.49)

135 7,230.84 (681.26) (95.23) (776.49)

136 6,549.58 (690.23) (86.26) (776.49)

137 5,859.35 (699.32) (77.17) (776.49)

138 5,160.03 (708.53) (67.96) (776.49)

139 4,451.50 (717.86) (58.62) (776.49)

140 3,733.63 (727.32) (49.17) (776.49)

141 3,006.32 (736.89) (39.59) (776.49)

142 2,269.42 (746.60) (29.89) (776.49)

143 1,522.82 (756.43) (20.06) (776.49)

144 766.39 (766.39) (10.09) (776.49)




P a g e 2 2 o f 2 2

Business & Financial Modelling

Business Planning

Feasibility Studies

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establishing a commercial bank in jordan - version 3

Economy & Finance