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Old March 11th, 2017, 09:41 AM
LeperColony LeperColony is offline
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It's possible that "month" is a term of art in Traveller, with a specific meaning when it comes to leases of 30 days. Which would explain why it does not harmonize with the previously described 28 day month of the Imperial calendar.
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Old March 12th, 2017, 03:15 AM
BlackBat242 BlackBat242 is offline
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Originally Posted by mike wightman View Post
MT Referee's Companion page 43:
Although common practice recognizes weeks of seven days and months of four weeks, they are not usually used in expressing dates.
and page 42:
Date Format: Within each year, the Imperial dating system uses a modified Julian system which consecutively numbers the days of the year from 001 to 365. Weeks of seven days and months of 28 days are used to indicate periods of time, but they are not named and are not used to indicate dates. The first day of the year is 001; the 100th day is 100.
And since we are in the Classic Traveller section, not the Mega-Traveller section, here is the CT reference:
Supplement 8 Library Data (A-M)
page 22-23, Dating Systems
Imperial Dating uses a Julian system for specifying days. Each day in the year is consecutively numbered beginning with 001.
Weeks of seven days and months of 28 days are used to refer to lengths of time, but rarely to establish dates.
"If there are Gods, they do not help, and Justice belongs to the strong; but know that all things done before the naked stars are remembered." Klingon proverb
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Old February 3rd, 2020, 03:42 AM
Kakistocrat Kakistocrat is offline
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Originally Posted by creativehum View Post
Mortgages on a Type A are 150,000 a month. The owner of the ship is paying, according the Book 2 rules, 1/240th of the cash price each month for 480 months (40 years). This assumes 12 months a year (12 payments a year for 40 years.)

However, for ease of play and bookkeeping, the Imperium broke the calendar year into 13 months of four weeks each. This is great... but now a captain is making 13 payments a year, not 12.

I was wondering if folks ending up reducing the mortgage fees to KCr138 a month, or kept the KCr150 knowing it would end the mortgage payments 4 years early.

I have no preference, and doubt a ship will ever be paid off in a game. But it does affect how much money a captain owes ever month, which affects cash flow.
As others noted, I took it as twelve monthly payments due per year of thirteen four-week months, keeping 480 monthly payments in 40 years.

Originally Posted by 1977 Book 2, page 5
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. The loan is paid off over a period of 40 years.
I took that snippet as estimating the results of a typical mortgage, which comes fairly close to a 5.575% annual interest rate compounded twelve times a year. Using these mortgage details, the estimated 1⁄240th cash price payment of CR 154,500 for a Type A actually comes in at CR 154,515, with the final payment being CR 154,082. The estimated interest and bank financing at 120% final cost (CR 44,496,000) works out to about 120.02% (CR 44,502,767).

For merchants who received “Merchant” (i.e. Type A free trader) as a mustering-out benefit multiple times, here’s the outstanding loan balance for each decade of the loan:

Years prepaidOutstanding loan balance
10 yearsCR 26,989,271
20 yearsCR 22,324,415
30 yearsCR 14,188,682
The mortgage is 50% paid off with payment 353 of 480.
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