Calculating Future Value of Insurance Savings. Beverly and Kyle currently insure their cars with separate companies, paying
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Calculating Future Value of Insurance Savings. Beverly and Kyle currently insure their cars with separate companies, paying $650 and $575 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 6 percent?
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