Calculator Problem – 05/06/2013

You have made 37 payments on a thirty thousand dollar mortgage at six percent amortized over thirty years.  What is the balance?

(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 for 04/22/2013 problem:

(N=360,I=6,PV=30,000,FV=0) PMT=179.87