Calculator Problem – 01/13/2014

You sell a mobile home for $36,000 with $2,000 down and carry back the balance over 20 years at 14.9%.  What is the monthly payment?

(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 for the answer.)

Answer for 12/30/2013 problem:
(N=360,I=4,PV=40,000,FV=0) PMT=$190.97
(N=360,I=6,PV=55,000,FV=0) PMT=$329.75
(N=360,PV= -5000,PMT=138.78,FV=0) I=33.31%

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