Re: Small-value long-term note

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Posted by jimi on November 19, 2009 at 06:57:12:

In Reply to: Small-value long-term note posted by Kristine-CA on November 18, 2009 at 14:19:11:

First solve for pmt:

n = 360
i = 10%
PV = 23k
FV = 0

solve for pmt = $201.84

Now solve for yield @ $15k purchase:

n = 264 (22 years)
PV = $15k
pmt = $201.84
FV = 0

Solve for i = %15.62%

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