If you invested $199 by not buying a new phone and $50 a month from your cell phone bill at 12%, how much money would you have at the end of thirty 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 http://www.facebook.com/pages/Gary-Johnston-Seminars/111368472221424 for the answer.)

Answer for 09/09/2013 problem:

(N=480,I=12,PV= -10,000,PMT=0) FV= $1,186,477.25

(N=480,I=4,PV= -10,000,PMT=0) FV= $49,398.71

$1,186,477.25 / $49,398.71 = 24 times as much!