| Assume you will be purchasing the tractor and the trailer with a loan, and you will make payments on these loans monthly for the duration of the loan. |
| Using costs and information from Appendix 4B in the book |
| Tractor: | | | | | | | Payment: |
| | | | | | | | 12 | times per year | | Monthly |
| Initial cost to buy | 80000 | This is the loan principal |
| Loan number of years | 5 | 60 | payments |
| Loan APR | 10 | 0.1 | percent |
| | | 0.0083333333 | percentage rate per period |
| Monthly payment | ($1,699.76) |
| Total of payments across the loan | ($101,985.81) | This is principal and interest |
| Equipment is available 365/24 (per Miscellaneous #3 on page 150) |
| Days per year | 365 |
| Hours per day | 24 |
| Loan Principal+Interest Per hour | $ (2.33) |
| Trailer: |
| Initial cost to buy | 24000 | This is the loan principal |
| Loan number of years | 8 | 96 | payments |
| Loan APR | 10 | 0.1 | percent |
| | | 0.0083333333 | percentage rate per period |
| Monthly payment | ($364.18) |
| Total of payments across the loan | ($34,961.27) | This is principal and interest |
| Equipment is available 365/24 (per Miscellaneous #3 on page 150) |
| Days per year | 365 |
| Hours per day | 24 |
| Loan Principal+Interest Per hour | $ (0.50) |
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TractorTrailerInterestCalculator.xlsx
