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Old March 10th, 2017, 10:51 PM
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Default A Wonky Question about Starship Mortgages

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.
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Old March 10th, 2017, 11:28 PM
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I've worked it either way and noticed no real change in my players' behavior or planning.

One option had them paying 12 times in a 13 month year with one month being "free" for a total of 40 years. Having the "free" month did resulting in nothing more than the players putting aside the money anyway. The other option had them paying the smaller fee 13 times a year for 40 years.

Having to pay less, but more often or having to pay the same, but not as often, changed nothing because the ultimate purchase price never changed.

I toyed with the idea of allowing the players to make extra payments to pay down the principle more quickly and thus service the mortgage more quickly, but I never implemented it. While my players were always interested in making their "nut" each month, they were never much interested in whittling down that "nut".

As you suspected, I never had a group pay off a 40 year mortgage. I did, however, have groups pay off shorter term mortgages in a variety of ways.
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Old March 11th, 2017, 12:07 AM
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In my experience, the nearly-universal view was that the "mortgage" payment schedule was indeed for 12 payments per year, with the 13th month being payment-free so that the owner could use that month for his annual ship maintenance period.
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Old March 11th, 2017, 01:09 AM
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Quote:
Originally Posted by BlackBat242 View Post
...with the 13th month being payment-free so that the owner could use that month for his annual ship maintenance period.
I was thinking about this as well.

Thanks for the replies, guys!
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Old March 11th, 2017, 05:34 AM
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You missed the option that requires no significant changes:
It's 12 monthly payments per year... 13th month is annual maintenance... no payment due, but the loan requires you to get it maintained, instead...
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Old March 11th, 2017, 06:05 AM
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Quote:
Originally Posted by creativehum View Post
However, for ease of play and bookkeeping, the Imperium broke the calendar year into 13 months of four weeks each.
I'm not sure that is true... ITTR having read somwhere (I'm afraid I cannot give you specific reference) that the term month is not too often used in Imperium, but when used it referes to 30 days (so leaving only 5 days a year that are not part of any month).

Id so, the payments (not only morgages, but also salaries, that you either left out of discussion or forgot about, but are also important) are paid every 30 days (days 30, 60, and so on each year), not very 4 weeks.

Of course, this way, the result keeps being that you in fact may perform (assuming 1 jump every 2 weeks) 25 jumps a year (and 2 weeks of maintenance), so you have 1 "free" (from the POV of morgage and salaries) jump a year.

Of course, you still have to pay for life support this jump, as this is calculated per 2 weeks, not per month.
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Old March 11th, 2017, 06:43 AM
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MT Referee's Companion page 43:
Quote:
Although common practice recognizes weeks of seven days and months of four weeks, they are not usually used in expressing dates.
and page 42:
Quote:
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.
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Last edited by mike wightman; March 11th, 2017 at 08:00 AM..
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Old March 11th, 2017, 07:18 AM
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Quote:
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 percent of the final cost of the ship, and the total financed price equals 220 percent of the cash purchase price, paid off over a period of 40 years.
MT Imperial Enc, p89.

This text clearly uses 12 months per year.
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Old March 11th, 2017, 08:00 AM
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DGP forgot to change it in the IE to make it setting specific.

Hence the disparity with the quotes from the MT RC.
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Old March 11th, 2017, 09:40 AM
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Quote:
Originally Posted by aramis View Post
You missed the option that requires no significant changes:
It's 12 monthly payments per year... 13th month is annual maintenance... no payment due, but the loan requires you to get it maintained, instead...
Yes. We covered that. And in my reply I mentioned that I had already considered this as a possibility. A good one!
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