If you invested $960 at 15% for forty-nine years, how much money would you have? (Compound monthly)
(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 08/11/2014 problem:
(I=1,PV=8,000,000,PMT= -45,000,FV=0) N=192.49
If you invested $11,250 into a deal that generated 48 monthly payments of $345, what would your return be?
(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 04/07/2014 problem:
(N=24,I=20,PMT=495,FV=0) PV=$9,725.75
You own a trailer park that has an empty lot that would rent for $495. If you only get 24 months out of the trailer, how much could you pay for a trailer if you wanted to earn 20% on your money?
(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 03/24/2014 problem:
(N=60,I=4.25%,PV=15,000,FV=0) PMT = $277.94
P/YR=1 (N=5,I=4.5%,PV=15,000,FV=0) PMT = $3,416.87
$277.94 * 12 = $3,335.28 – $3,416.87 = $81.59
You purchase a mobile home and lot for $15,000. You rent the home for $600 and keep half after expenses and vacancy. If the mobile home only lasted for 7 years and you lost the lot, what would be 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 https://www.facebook.com/garyjohnstonseminars for the answer.)
Answer for 11/18/2013 problem:
(I=2.58%,PV=176,000,PMT= -750, FV=0) N=326.98
Use amortization function to find balance at 120 months = $125,189.17
Or
(N=120,I=2.58%,PV=176,000,PMT= -750) FV = $125,189.25
You are negotiating with a seller on a $355,000 loan amortized over ten years. You would like the interest rate to be 4% and the seller wants 6%. What is the difference in payments over the life of the loan?
(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 for 07/01/2013 problem:
(N=480,I=12,PV=-0,PMT=30) FV=352,943.18
If you invested a dollar a day (assume 30 days per month) at 12%, how much money would you have at the end of 40 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 for 06/17/2013 problem:
(N=24,I=11,PMT=200,FV=4250) PV=7,705.25
If you can make 8% on your money are you better off paying $350 today or $397 in nine months?
(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 for 05/20/2013 problem:
(N=120,I=7,PV=0,PMT= -6000) FV=1,038,508.84
A big shout out to Rich Worcester for his inclusion in a Wall Street Journal article on Tuesday. Very cool!
If you invested $6,000 a month at 7% for ten years, how much money would you have at the end of the ten 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 for 05/06/2013 problem:
(N=37,I=6,PV=30,000, PMT= -179.87) FV=28,789.48 (28,789.29 if you entered the payment instead of calculating it).
You have made 37 payments on a thirty thousand dollar mortgage at six percent amortized over thirty years. What is the balance?
(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 for 04/22/2013 problem:
(N=360,I=6,PV=30,000,FV=0) PMT=179.87
