(See Calculator Problem – 07/16/2012). If you made 84 payments, what is the current balance?
(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 to 07/16/2012 problem:
(N=240,I=7,PV=1,125,000,FV=0) PMT= $8722.11