Calculator Problem – 07/16/2012

If you buy a property for $1.5MM and finance 75% at 7% over 20 years, what is the monthly 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 07/02/2012 problem:

(N=72,I=10,PMT=28,FV=0) PV=$1511.40