Javier is currently paying $1,200 in interest on his credit cards annually. If, instead of paying interest, he saved this amount every year. How much would he accumulate in a tax-deferred account earning 12 percent over 8, 13, and 18 years?
Compound Sum of an Annuity of $1 (FVIFA) 13% 4% 5% 6% 7% 8% 10% 11% 12% 1.000 1.000 2.110 1.000 1.000 1.000 1.000 2.070 3.215 4.440 1.000 1.000 1.000 1.000 2.040 2.090 3.278 2.120 2.050 2.060 2.080 2.100 2.130 3.246 4.506 3.122 3.153 3.184 3.310 3.342 3.374 3.407 4.246 5.416 6.633 4.375 4.710 6.228 7.913 9.783 4 4.310 4.573 4.641 4.779 4.850 5.526 6.802 6.105 7.716 9.487 5.637 5.751 5.867 5.985 6.353 6.480 6.975 7.153 8.115 7.523 7.336 8.323 9.200 7.898 8.142 8.394 8.654 8.923 10.089 10.405 9.214 10.260 12.300 11.859 9.549 9.897 10.637 11.028 13.021 15.193 17.560 11.436 12.757 13.579 14.164 14.776 10.583 11.027 11.491 11.978 12.488 15.416 13.816 15.784 17.888 14.487 15.937 10 12.006 12.578 13.181 16.722 17.549 18.420 13.486 15.026 21.814 14.207 20.655 11 14.972 16.645 18.531 19.561 21.384 22.713 18.977 24.133 12 15.917 16.870 20.141 25.650 21.495 22.953 26.019 18.882 13 16.627 17.713 20.141 24.523 26.212 28.029 29.985 27.975 30.095 34.405 39.190 32.393 18.292 20.024 21.825 23.698 25.645 21.015 23.276 14 19.599 22.550 24.215 34.883 21.579 23.657 15 25.129 27.152 29.361 31.772 37.280 40.417 27.888 30.840 33.999 30.324 35.950 40.545 45.599 42.753 46.672 16 25.673 33.003 36.974 44.501 48.884 17 25.840 28.213 33.750 53.739 28.132 30.906 50.396 18 37.450 41.301 55.750 61.725 41.446 45.762 46.018 51.160 19 27.671 30.539 33.760 37.379 51.159 56.939 63.440 70.749 33.066 35.719 38.505 41.430 36.786 39.993 43.392 40.995 64.203 72.052 57.275 20 29.778 80.947 31.969 92.470 21 44.865 50.423 56.765 64.002 72.265 81.699 49.006 53.436 71.403 79.543 88.497 81.214 92.503 104.603 118.155 133.334 62.873 22 34.248 55.457 105.491 120.205 60.893 69.532 23 36.618 46.996 91.148 102.174 114.413 50.816 54.865 76.790 24 39.083 44.502 58.177 66.765 136.831 155.620 73.106 113.283 41.646 25 47.727 63.249 84.701 98.347 66.439 120.800 209.348 164.494 56.085 30 79.058 94.461 136.308 199.021 241.333 293.199 581.826 40 95.026 154.762 199.635 259.057 337.882 442.593 767.091 1013.704 3459.507 290.336 406.529 573.770 1163.909 2400.018 1668.771 50 152.667 815.084
