Work Step by Step
Due to compounding interest, 10 years paying 1000 dollars is not the same as five years paying 2000 dollars. After all, this ignores the time value of money.
You can help us out by revising, improving and updating this answer.Update this answer
After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.