You buy furnishings for $10,000 and charge $950 a month on a twelve month lease. What is the return on your investment?
(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 01/13/2014 problem:
(N=12,PV= -10,000,PMT=950,FV=0) I=24.91%