You purchase a mobile home for $2000, then sell it on terms for payments of $150 for 48 months. What is your return?
(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 2010-09-13 problem:
N=22.01 (I=14.99, PV=6700, PMT= -350, FV=0)