2003 Applicable Federal Rates

December

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term (<3 yrs)1.68%1.67%1.67%1.66%
Mid-term (>3 yrs <9 yrs)3.55%3.52%3.50%3.49%
Long-term (>9 yrs)5.12%5.06%5.03%5.01%

November

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term (<3 yrs)1.50%1.49%1.49%1.49 %
Mid-term (>3 yrs <9 yrs)3.32%3.29%3.28%3.27%
Long-term (>9 yrs)4.99%4.93%4.90%4.88%

October

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term (<3 yrs)1.68 %1.67 %1.67 %1.66 %
Mid-term (>3 yrs <9 yrs)3.65%3.62%3.60%3.59%
Long-term (>9 yrs)5.23%5.16%5.13%5.11%

September

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term (<3 yrs)1.52 %1.51 %1.51 %1.51 %
Mid-term (>3 yrs <9 yrs)3.43%3.40%3.39%3.38%
Long-term (>9 yrs)5.08%5.02%4.99%4.97%

August

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term (<3 yrs)1.21 %1.21 %1.21 %1.21 %
Mid-term (>3 yrs <9 yrs)2.70%2.68%2.67%2.67%
Long-term (>9 yrs)4.36%4.31%4.29%4.27%
July

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term (<3 yrs)1.23 %1.23 %1.23 %1.23 %
Mid-term (>3 yrs <9 yrs)2.55%2.53%2.52%2.52%
Long-term (>9 yrs)4.17%4.13%4.11%4.09%

June

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term (<3 yrs)1.49 %1.48 %1.48 %1.48 %
Mid-term (>3 yrs <9 yrs)3.06 %3.04%3.03%3.02%
Long-term (>9 yrs)4.65%4.60%4.57%4.56%

May

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term (<3 yrs)1.53 %1.52 %1.52 %1.52 %
Mid-term (>3 yrs <9 yrs)3.17%3.15%3.14%3.13%
Long-term (>9 yrs)4.79%4.73%4.70%4.68%

April

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term (<3 yrs)1.46 %1.45 %1.45 %1.45%
Mid-term (>3 yrs <9 yrs)2.96%2.94%2.93%2.92%
Long-term (>9 yrs)4.58%4.53%4.50%4.49%

March

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term (<3 yrs)1.58 %1.57 %1.57 %1.56 %
Mid-term (>3 yrs <9 yrs)3.24%3.21%3.20%3.19%
Long-term (>9 yrs)4.80%4.74%4.71%4.69%

February

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term (<3 yrs)1.65 %1.64 %1.64 %1.63 %
Mid-term (>3 yrs <9 yrs)3.27%3.24%3.23%3.22%
Long-term (>9 yrs)4.85%4.79%4.76%4.74%

January

Period for Compounding

Annual

Semiannual

Quarterly

Monthly

Short-term (<3 yrs)1.81 %1.80 %1.80 %1.79 %
Mid-term (>3 yrs <9 yrs)3.43%3.40%3.39%3.38%
Long-term (>9 yrs)4.90%4.84%4.81%4.79%