Calculator Problem – 07/13/2015

If a property generated $20,000 a month and expenses ate up 25% of the rents, how much debt could you support with a ten year amortization at 5%?

(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 06/29/2015:

(I=5,PV=1,125,000,PMT= -20,000,FV=0)  N=64.23