by Buddy Broome | Sep 10, 2016 | Blog, Challenge, Uncategorized
Atticus purchased a home 5 years (60 months) ago and he is contemplating refinancing his home. However, he wants to know what his current mortgage balance is before he speaks to the bank so that he does not have to rely on bank telling him the number. When Atticus...
by Buddy Broome | Aug 9, 2016 | Blog, Challenge, Uncategorized
Chip wants to have a $1,000,000 in 30 years. If Chip is able to make his money work at 15% interest, and he only makes a one time investment today with no more contributions later, how much must he invest today to have $1,000,000 in 30 years? Answer: (These are the...
by Buddy Broome | Jul 5, 2016 | Blog, Challenge, Uncategorized
Sammy is looking to borrow money and agrees to borrow $1,000 from Tommy. Sammy says that he can pay Tommy back $93/month for the next 12 months. How much interest will be paid on this loan? Answer: Buttons to enter into your HP 10bii N (number of months) = 12 I/YR...
by Buddy Broome | Jun 7, 2016 | Blog, Challenge, Uncategorized
Sara & Jerry have been working extremely hard at their 9 to 5 jobs and they want to go on a vacation to get some well deserved rest & relaxation. They have decided that they are going to a secluded beach resort to fulfill this goal and the vacation that they...
by Buddy Broome | May 8, 2016 | Blog, Challenge, Uncategorized
Theodore purchased a new car in May of 1956 for $2,500. Theodore wants to know what the equivalent of $2,500 would be today. Assume that there has been an average rate of inflation over this time of 3.2%. With this assumption, what would the equivalent value of...
by Buddy Broome | Apr 2, 2016 | Blog, Challenge, Uncategorized
Arthur purchased a rental property today at the fair market value of $200,000. Arthur wants to estimate the value of the property in 10 years. Arthur assumes that his property will appreciates at a rate of 3.5% interest. With these assumptions, what can Arthur...
