If you invested $400 a month for 100 months and ended up with $50,000, what would have been your return?
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Answer for 09/07/2015:
(I=7.5%,PV=63,000,PMT= -400,FV=0) N=667.50
How many months would it take to pay off a loan of $3100 at 19.96% with payments of $250?
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Answer for 07/27/2015:
(N=180,I=18,PMT=0,FV=25,000) PV=$1,714.16
If you had a loan of $1.125m at 5% and made payments of $20,000 a month, how long would it take to pay off the loan?
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Answer for 06/15/2015:
(N=300,I=5.25,PV=500,00,FV=0) PMT= -2996.24
(N=300,I=5.5,PV=500,000,FV=0) PMT= -3070.44
3070.44-2996.24=74.20
(N=120,I=12,PV=0,PMT=74.20) FV=17068.87
(N=60,I=12,PV=17068.87, FV=0) pmt=379.69
379.69+2996.24=3375.93
(N=120,I=5.25,PV=500,000,PMT= -2996.24) FV= -372722.95
(N=180,I=5.5,PV=500,000,PMT= -3070.44) FV= -282920.40
(N=60,PV=372722.95,PMT= -3375.93,FV= -282920.4) I= 6.81
You have a choice between two $500,000 loans. The first loan is fixed for 10 years @ 5.25% and amortized over 25 years. The second loan is fixed for 15 years at 5.5% and amortized over 25 years. If you took the 5.25% loan and invested the difference between the two payments at 12% then at the end of ten years started taking a monthly draw down of the investment that is still returning 12% to add to your current payment, what interest rate could you then support to end up at an equivalent point at the end of the 15 year loan?
Join us on Facebook as Bruce shows us how to solve this one. 😉 Good morning Bruce!
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Answer for 06/01/2015:
(N=300,I=5,PV=500,500,FV=0) PMT= -2925.87
You get a 65% LTV loan on a $770,000 purchase at 5% amortized over 25 years. What is the monthly payment?
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Answer for 05/18/2015:
(N=48,I=4,PV=1,000,000,FV=0) PMT= $22,579.05
If you borrowed $42,000 at 10% and made $2000 payments a month, how long would it take to pay off the loan?
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Answer for 04/06/2015:
(N=216,I=1.92,PV=1,500,000,FV=-0) PMT= -8,218.93
You borrow $1,500,000 at 30 day LIBOR with a 1 3/4 spread amortized over 18 years. If LIBOR is 17 basis points today, what is your payment?
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Answer for 03/23/2015:
(N=240,I=5%,PV=333,333.33,FV=0) PMT= -2,199.85
What would be the payment on the bank portion of the loan? (See problem 02/23/2015)
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Answer for 03/09/2015:
(N=480,I=1.5,PV=300,000, FV=0) PMT= -831.52
What would be the payment on the FSA portion of the loan? (See 02/23/2015 problem)
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Answer for 02/23/2015:
$300,000 / 45% = $666,666.67
You can purchase a farm with 5% down, 45% of the purchase price with a FSA loan at 1.5% amortized over 40 years (with a maximum FSA loan of $300,000) and 50% of the purchase price with bank loan at 5% with 10 years fixed, amortized over 20 years. If you wanted to maximize the FSA portion of the loan, how much should the purchase price be?
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Answer for 02/09/2015:
(N=63,I=10,PMT= -132.15,FV=0) PV=$6,456.69
