A new iPhone costs $649. If you kept your old phone and invested the $649 at 18%, how much would you have at the end of the 30 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 https://www.facebook.com/garyjohnstonseminars for the answer.)
Answer for 11/03/2014 problem:
(N=60,I=10,PMT= -276.97,FV=0) PV= $13,035.70