You have $6000 in a savings account earning 0.3%. If you had instead invested it in something earning 6%, how much more money would you have at the end of 5 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 to 11-22-2010 problem:
N=26.35 (I=31.99, PV=100 PMT=0, FV= -200)