Calculator Problem – 08/12/2013

You purchase a mobile home for $3000 and put $1500 in repair costs into the property.  You sell it for $12,000 with $1000 down and the balance at 14% amortized over 4 years.  What is your yield?

(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 07/29/2013 problem:

(N=27,PV= -78,000,PMT=600,FV=150,000) I=36.33%