100 acres of land is purchased for $5,300 per acre or a total of $530,000. A down-payment of $130,000 is made, leaving $400,000 to be borrowed.

Annual Loan Payments Total Amount Paid

% Interest Years per Year per Acre 100 Acres Per Acre

9% 30 $38,920 $389.20 $1,167,600 $11,676

7% 30

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

9% 20

7% 20

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

(seller financed contracts)

7% 15

5% 15