What would be the future value of the annual savings

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Reference no: EM131062890

Karen and Mike currently insure their cars with separate companies, paying $900 and $1,100 a year. If they insured both cars with the same company, they would save 15 percent on the annual premiums. What would be the future value of the annual savings over 10 years based on an annual interest rate of 3 percent? (Using 11.464 for future compound )

Reference no: EM131062890

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