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Karen and Mike currently insure their cars with separate companies paying $700 and $900 a year. If they insure both cars with the same company,

Karen and Mike currently insure their cars with separate companies paying $700 and $900 a year. If they insure 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 ten years based on an annual interest rate of 4 percent?

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