Calculator Problem – 04/20/2015

If you borrowed $42,000 at 10% and made $2000 payments a month, how long would it take to pay off the loan?

(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 https://www.facebook.com/garyjohnstonseminars for the answer.)

Answer for 04/06/2015:
(N=216,I=1.92,PV=1,500,000,FV=-0) PMT= -8,218.93