What would be the future value of the annual savings

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Reference no: EM131486319

Question: Karen and Mike currently insure their cars with separate companies, paying $700 and $900 a year. If they insured both cars with the same company, they would save 10 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 4 percent?

Reference no: EM131486319

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