Calculator Problem – 10/25/2010

 How much would you pay for a note that has 63 payments of $851 if you wanted to make 12% on your money?

 (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 2010-10-11 problem:

 I=1.07% (N=360, PV= 500,000, PMT= -1625, FV=0)