Calculator Problem – 12/29/2014

You are paying on a note that has a balance of $60,000 with 0% interest and $500 a month payments.  If you could buy the note for $20,000, what would be the return on your investment (monthly compounding)?

(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.)

Answer for 12/15/20
(N=36,PV= -65,000,PMT=0,FV=140,000)  I=25.85%