Eileen, who is currently paying $1080 per year in finance charges to her credit card company, wants a car that costs $11.000. How long would I have taken Eileen to save for the outright purchase of the car it she did not have any credit card debt and used the interest payments to save for the purchase of the car? Eller can bevest funds in an account paying 5% interest.
To save for the outright purchase of the car, it would take Eleen ______ years.