Appendix C - New Location Mortgage

Example

For period May 1, 1981 to March 1, 1982 (Renewal Date)
Interest to be paid as at April 1
Principal for calculating differential $35,694.93

Month	Interest which would have been paid	Principal payment	Monthly payment	Principal balance
	Factor (.0065581970)		(Payment Per) '000$
May 1, 81	312.83	39.17	352.00	35,655.76
June 1, 81	312.49	39.51	352.00	35,616.25
July 1, 81	312.14	39.86	352.00	35,576.39
August 1, 81	311.79	40.12	352.00	35,536.18
Sept. 1, 81	311.44	40.56	352.00	35,495.62
Oct. 1, 81	311.09	40.91	352.00	35,454.71
Nov. 1, 81	310.73	41.27	352.00	35,413.40
Dec. 1, 81	310.37	41.63	352.00	35,371.81
Jan. 1, 82	310.00	42.00	352.00	35,329.81
Feb. 1, 82	309.63	42.37	352.00	35,287.44
March 1, 82	309.26	42.74	352.00	35,244.70
	3,421.77

Difference 860 ÷ 11 payments = 78.27 per month

National Joint Council