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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