Calculator Problem – 11/18/2013

Given a loan of $176,000 at 2.58% with payments of $750 a month, what would be the balance of the loan after ten years?

(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.)

(N=360,I=6,PV=100,000,FV=0)        PMT=$599.55
(N=360, PV=97,000,PMT= -599.55,FV=0)  I=6.29%