If you paid $16,000 for an investment that gerenated $400 a month for 5 years, what would be your yield?
(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.)
The answer to the 2010-08-02 calculator problem is FV=$349,748.12
(N=180, I=12, PV= -50,000, PMT= -100)