I need help finding the future value of an annuity

timer Asked: Mar 19th, 2015

Question description

Brad has shown a reluctance to pay off his credit card balance.  Show Brad what he could earn in   five years if he paid off the balance and invested the interest saved each year at 6 percent.  (Hint: You could use the annual interest of 18% multiplied by the $10,000.00 average balance or you could use the $200.00 per month payment for an annual amount of $2400.00 as the per year payment.)  This problem is the Future Value of an annuity.

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