Calculator Problem – 09/12/2011

You find a rental house for $60,000 that you can finance  with a 75% LTV loan at 5% over 15 years. How much will your payment be every month?

(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 08/29/2011 problem:

(N=60,PV=0,PMT=-718.08,FV=44,669.85) I=1.46%