Calculator problem – 01/28/2013

What is the payment on a thirty year loan for $720,000 at a fixed rate of 3.75%?

(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.)

(N=360,I=10,PV=0,PMT= – 153.71) FV = $347,459.60 + $40,000 = $387,459.60