Calculator Problem – 02/13/2012

If you refinance a loan balance of $65,000 at 4.5% amortized over 30 years, what is your new monthly payment?

(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 01/30/2012 problem:

(N=60,I=15,PV= -25,000,PMT=100) FV= $43,822.08