Question
Javier is currently paying $1200 in interest on his credit cards annually. If, instead of paying interest, this amount was saved every year, how much
Javier is currently paying $1200 in interest on his credit cards annually. If, instead of paying interest, this amount was saved every year, how much would Javier accumulate in a tax-deferred account earning 8 percent over 10, 15, or 20 years?
PV PV
Rate (i) Rate (i)
N N
Payment Payment
FV FV
Total Pmt $ Total Pmt $
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Real Estate Finance and Investments
Authors: William Brueggeman, Jeffrey Fisher
14th edition
73377333, 73377339, 978-0073377339
