If you purchase a house for $150,000 and finance it with a 75% LTV loan at 4 5/8 over 30 years, what will be your 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 05-23-2011 problem:
(N=10,PV= -511.59,PMT=61.29,FV=0) I= 41.13%