Land Contract: Payments

Below is the full account of the monthly payments made by Jessica, according to the contract, for the plot of land that she bought. All except two bank receipts are available. All payments are verified by bank statement.

SAGARANA – FAZENDINHAS INTELIGENTES

Recebemos de [Jessica] a importância de R$200,00 (duzentos reais) referente à primeira das 32 parcelas mensais do pagamento dos lotes números 07 e 08 do Condomínio Ipê Amarelo (Reserva de Imóvel Rural No 034) do Complexo Ecoturístico Canela de Ema.

INTERURAL – EMPREENDIMENTOS TURÍSTICOS E PARTICIPAÇÕES LTDA

Initial payment 14/11/2001 R$ 1,600.00
Interural…Ltda 25/01/2002 R$ 200.00
Interural…Ltda 25/02/2002 R$ 202.00
Interural…Ltda† 25/03/2002 R$ 204.02
Interural…Ltda 25/04/2002 R$ 206.06
Interural…Ltda 24/05/2002 R$ 208.12
Interural…Ltda 25/06/2002 R$ 210.20
UNIBANCO 25/07/2002 R$ 212.30
UNIBANCO† 25/08/2002 R$ 214.43
UNIBANCO 25/09/2002 R$ 216.57
UNIBANCO 25/10/2002 R$ 218.73
UNIBANCO 25/11/2002 R$ 220.92
UNIBANCO 25/12/2002 R$ 223.13
UNIBANCO 25/01/2003 R$ 225.36
UNIBANCO 25/02/2003 R$ 227.61
UNIBANCO 25/03/2003 R$ 229.89
UNIBANCO 25/04/2003 R$ 232.19
UNIBANCO 25/05/2003 R$ 234.51
UNIBANCO 25/06/2003 R$ 236.86
UNIBANCO 25/07/2003 R$ 239.22
UNIBANCO 25/08/2003 R$ 241.62
UNIBANCO 25/09/2003 R$ 244.03
UNIBANCO 25/10/2003 R$ 246.47
UNIBANCO 25/11/2003 R$ 248.94
UNIBANCO 25/12/2003 R$ 251.43
Banco do Brasil 26/01/2004 R$ 253.95
Banco do Brasil 25/02/2004 R$ 256.49
Banco do Brasil 24/03/2004 R$ 259.05
Banco do Brasil 26/04/2004 R$ 261.64
Banco do Brasil 24/05/2004 R$ 264.26
Banco do Brasil 23/06/2004 R$ 266.90
Banco do Brasil 26/07/2004 R$ 269.57
Banco do Brasil 24/08/2004 R$ 272.27
TOTAL PAID R$ 9,098.74

† receipt missing

Two payment receipts are missing: I have therefore calculated the amounts based on a growth of 1% per month.

The monthly payments grow at 1% a month as a supposed protection against inflation of the Real during the payment period. The final amount R$9098.74 compensates for a total inflation of 13.73425% over the 32 month payment period. R$ 8791.94304 the actual inflated figure over the 32 months. Jessica has overpaid by R$ 306.79696


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