Calculator Problem – 01/03/2011

If you purchase a house for $35,000 and sell it for $59,000 five months later, what is the return on your investment?

(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 12-20-2010 problem:

$2,647,073.81 (N=480, I=12, PV=0, PMT= -225)  PMT = $7.50 * 30 = $225