Question: Please do the calculations for 10, 15, and 20 years. Thank you! Javier is currently paying $1,200 in interest on his credit cards annually. If,

Please do the calculations for 10, 15, and 20 years. Thank you!

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 7 percent over 10, 15, or 20 years? Click on the table icon to view the FVIFA table B. If, instead of paying interest, this amount was saved every year in a tax-deferred account earning 7 percent over 10 years, the amount accumulated would be $ . (Round to the nearest dollar.)

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