Armored Car Service

Reserves

Deposits
L
o
a
n
s

20.0 %

80.0 %

Reserve Requirement

L
o
a
n
s

Bargain Mart
Gross Deposit Liability
20.0% Reserve Requirement
25% from BSP
75% Acceptable as Reserves
80% T-Bil s
20% Cash-In-Vault
80.0% Loanable Amount

3,300.0
660.0
165
495.0
396.0
99.00

2,640.0

0
3,300.0

10
(3,300.0)

Total

Bargain Mart
Gross Deposit Liability
3,300.0
20.0% Reserve Requirement
660.0
25% from BSP
165
75% Acceptable as Reserves 495.0
80% T-Bills
396.0
20% Cash-In-Vault
99.00
80.0% Loanable Amount
2,640.0
Interest Income
Reserve Requirement
4% from BSP
Acceptable as Reserves
14% T-Bills

0
3,300.0

Interest subject to Final Wtax

0% Cash-In-Vault
21.0% Loanable Amount

Total

3,300.00

6.60

6.60

6.60

6.60

6.60

6.60

6.60

6.60

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

6.60

10
(3,300.0)

Total

6.60

66.00

57.08
57.08
63.68
63.68
554.40 554.40
681.77 (2,618.23)

570.83
636.83
5,544.00
6,817.67

Bargain Mart
Gross Deposit Liability
Interest Income
Reserve Requirement
4% from BSP
Acceptable as Reserves
14% T-Bills

3,300.0

0
3,300.0

Cash Overage (Shortage)

10
(3,300.0)

Total

6.60

6.60

6.60

6.60

6.60

6.60

6.60

6.60

66.00

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
(2,618.23)

570.83
636.83

3,300.00

57.08
63.68
554.40
681.77

5,544.00
6,817.67

3,300.00

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
(481.80)
199.97 (3,100.03)

(4,818.00)
1,999.67

0% Cash-In-Vault

481.80

800.00
80.00

6.60

21.0% Loanable Amount

Cost of Operating Car

New Armored Car
Cost
Depreciation
Personnel Expenses
Gasoline Expenses
Driver's Salaries'
Guards' Costs
Teller's Salaries
Sub-Total
Net Cost of Car
Expense Tax Shield
Net Cost after Shield

6.60

Interest subject to Final Wtax

Total
Interest Expenses
14.6% Borrowing Rate
Interest Expense
Cash Flow from Normal Banking Opns

(800.00)

(45.00)
(14.40)
(28.80)
(19.20)

(800.00)

(800.00)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(450.00)
(144.00)
(288.00)
(192.00)
(1,074.00)
(1,874.00)

(800.00)

(107.40)

(107.40)

(107.40)

(107.40)

(107.40)

(107.40)

(107.40)

(107.40)

(107.40)

(107.40)

(1,874.00)

2,500.00

92.57

92.57

92.57

92.57

92.57

92.57

92.57

92.57

92.57

(3,207.43)

125.67

-32%

Bargain Mart
Gross Deposit Liability
Interest Income
Reserve Requirement
4% from BSP
Acceptable as Reserves
14% T-Bills

3,300.0

0
3,300.0

10
(3,300.0)

6.60

6.60

6.60

6.60

6.60

6.60

66.00

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
(2,618.23)

570.83
636.83

3,300.00

57.08
63.68
554.40
681.77

5,544.00
6,817.67

3,300.00

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
(3,100.03)

(4,818.00)
1,999.67

(800.00)

(800.00)

(800.00)

(107.40)
(107.40)

(107.40)
(107.40)

(107.40)
(107.40)

(107.40)
(107.40)

(107.40)
(107.40)

(107.40)
(107.40)

(107.40)
(107.40)

(107.40)
(107.40)

(107.40)
(107.40)

(107.40)
(107.40)

(1,074.00)
(1,874.00)

2,500.00

92.57

92.57

92.57

92.57

92.57

92.57

92.57

92.57

92.57

(3,207.43)

125.67

(12.74)

(12.74)

(12.74)

(12.74)

(12.74)

(12.74)

(12.74)

(12.74)

(12.74)

(12.74)

(127.37)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

5,544.00
(4,818.00)
(1,074.00)
(800.00)
(1,148.00)
367.36
(127.37)
(1.70)

Income Tax
-20.0% Interest Income @ Final Tax
Normal Corporate Income Tax
Interest Income
Interest Expense
Personnel Expenses
Depreciation
Net Taxable Income
Normal Corporate Income Tax
Total Income Tax
Net Cash Overage (Shortage)

2,500.00

79.83

79.83

79.83

79.83

79.83

79.83

79.83

79.83

79.83

(3,220.17)

Cumulative Cash Position

2,500.00

2,579.83

2,659.66

2,739.49

2,819.32

2,899.15

2,978.98

3,058.81

3,138.64

3,218.47

(1.70)

Internal Rate of Return

Net Present Value

Total

6.60

481.80

Cash Overage (Shortage)

6.60

0% Cash-In-Vault

800.00
80.00

6.60

21.0% Loanable Amount

Cost of Operating Car

New Armored Car
Cost
Depreciation
Personnel Expenses
Sub-Total
Net Cost of Car

6.60

Interest subject to Final Wtax

Total
Interest Expenses
14.6% Borrowing Rate
Interest Expense
Cash Flow from Normal Banking Opns

0.01%
1,799.48

Bargain Mart
Gross Deposit Liability
20.0% Reserve Requirement
25% from BSP
75% Acceptable as Reserves
80% T-Bills
20% Cash-In-Vault
80.0% Loanable Amount
Interest Income
Reserve Requirement
4% from BSP
Acceptable as Reserves
14% T-Bills

3,300.0
660.0
165
495.0

0
3,300.0

10
(3,300.0)

6.60

6.60

6.60

6.60

6.60

6.60

6.60

6.60

3,300.00

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
681.77

57.08
63.68
554.40
(2,618.23)

5,544.00
6,817.67

3,300.00

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
199.97

(481.80)
(3,100.03)

(4,818.00)
1,999.67

481.80

800.00
80.00

6.60

(800.00)

(45.00)
(14.40)
(28.80)
(19.20)

66.00
570.83
636.83

(800.00)

(800.00)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(45.00)
(14.40)
(28.80)
(19.20)
(107.40)
(107.40)

(450.00)
(144.00)
(288.00)
(192.00)
(1,074.00)
(1,874.00)

(800.00)

(107.40)

(107.40)

(107.40)

(107.40)

(107.40)

(107.40)

(107.40)

(107.40)

(107.40)

(107.40)

(1,874.00)

-32%

2,500.00

92.57

92.57

92.57

92.57

92.57

92.57

92.57

92.57

92.57

(3,207.43)

(12.74)

(12.74)

(12.74)

(12.74)

(12.74)

(12.74)

(12.74)

(12.74)

(12.74)

(12.74)

(127.37)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

554.40
(481.80)
(107.40)
(80.00)
(114.80)
36.74
(12.74)

5,544.00
(4,818.00)
(1,074.00)
(800.00)
(1,148.00)
367.36
(127.37)
(1.70)

Net Cash Overage (Shortage)

2,500.00

79.83

79.83

79.83

79.83

79.83

79.83

79.83

79.83

79.83

(3,220.17)

Cumulative Cash Position

2,500.00

2,579.83

2,659.66

2,739.49

2,819.32

2,899.15

2,978.98

3,058.81

3,138.64

3,218.47

(1.70)

Net Present Value

6.60

Income Tax
-20.0% Interest Income @ Final Tax
Normal Corporate Income Tax
Interest Income
Interest Expense
Personnel Expenses
Depreciation
Net Taxable Income
Normal Corporate Income Tax
Total Income Tax

Internal Rate of Return

Total

99.00

0% Cash-In-Vault

Cash Overage (Shortage)

2,640.0

21.0% Loanable Amount

Cost of Operating Car

New Armored Car
Cost
Depreciation
Personnel Expenses
Gasoline Expenses
Driver's Salaries'
Guards' Costs
Teller's Salaries
Sub-Total
Net Cost of Car
Expense Tax Shield
Net Cost after Shield

396.0

Interest subject to Final Wtax

Total
Interest Expenses
14.6% Borrowing Rate
Interest Expense
Cash Flow from Normal Banking Opns

0.01%
1,799.48

125.67