Calculator Problem – 03/14/2011

What is the outstanding balance after 85 payments on a loan of $190,000 at 6% amortized over 15 years?

 (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 02-28-2011 problem:

98 months