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What would be the future value of the annual savings

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Reference no: EM132794569

George and Yujia currently insure their cars with separate companies, paying $620 and $640 a year. If they insured both cars with the same company, they would save 15 percent on the annual premiums.

Problem 1: What would be the future value of the annual savings over 10 years based on an annual interest rate of 8 percent?

Reference no: EM132794569

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