Calculator Problem – 04/23/2012

What is the payment on a loan of $31,500 at 4.25% amortized over 12 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 for the answer.)

Answer to 04/09/2012 problem:

(N=6,PV= -1000,PMT=200,FV=0) I=65.66%

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