You have an outstanding credit card balance of $1,000. You decide to stop making new charges and pay $325 each month until the balance is paid. If your annual interest rate is 18%, how many months will it take you to pay off your balance? You are currently paying $700 in interest on your credit cards annually. If, instead of paying interest, you saved this amount every year, how much would you accumulate in a tax-deferred account earning 8% over the next 10 years