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Beverly and Kyle Nelson currently insure their cars with separate companies, paying $580 and $615 a year. If they insured both cars with the same
Beverly and Kyle Nelson currently insure their cars with separate companies, paying $580 and $615 a year. If they insured both cars with the same company, they would save 20 percent on the annual premiums.
Beverly and Kyle Nelson currently insure their cars with separate companies, paying $580 and $615 a year. If they insured both cars with the same company, they would save 20 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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