Calculator Problem – 03/26/2012

You purchase a note with 48 payments of $250 for $8000.  What is your return?

(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 03/12/2012 problem:

(N=216,I=8,PV= -150,000, PMT=0) FV=$630,086.13