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Assume a person saves $92 a month by using coupons and doing comparison shopping. a. What is the amount of annual savings? b. What would

Assume a person saves $92 a month by using coupons and doing comparison shopping.

a. What is the amount of annual savings?

b. What would be the future value of this annual amount over 8 years, assuming an interest rate of 5 percent? Use Exhibit 1-B. (Round FVA factor to 3 decimal places and final answer to 2 decimal places.)

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