If you wanted to make 11% on your money, how much would you pay for a note that had 24 payments of $200 and a $4250 at the end of the note?
(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 for 06/03/2013 problem:
(N=9,PV= -350,PMT=0,FV=397) I=16.92% – better off paying today.