Calculator Problem – 07/18/2011

(See Calculator Problem 07/04/2011) If you wait until you are 66, you can collect $1846 a month. If you can earn 7% on your money, how much will you have when you turn 80?

(The answer will be posted with the new calculator problem in 2 weeks.  Or if you can’t wait that long, you can go to http://www.facebook.com/pages/Gary-Johnston-Seminars/111368472221424 for the answer.)

Answer to 07/04/2011 problem:

(N=216,I=7,PV=0,PMT= -1228) FV= 528,925.42