You would like to vacation in Hawaii for one week each year. You can buy a time share for a vacation home in Hawaii for $19,000 today and a maintenance fee of $660 per year starting next year. You expect to sell the time share in 10 years for $19,000 . Alternatively you can just pay for the week vacation each year (starting next year). Each year will cost you $1,500 . If your investments earn 5% per year (compounded annually) which alternative is cheaper and by how much in present value terms?