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Shaan and Anita currently insure their cars with separate companies, paying $650 and $575 a year. If they insure both cars with the same company,

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Shaan and Anita currently insure their cars with separate companies, paying $650 and $575 a year. If they insure both cars with the same company, they would save 10 percent on their annual premiums. What would be the future value of the annual savings over 10 years based on an annual interest rate of 6 percent? Use Exhibit 1-B. (Do not round intermediate calculations. Round FVA factor to 3 decimal places and final answer to 2 decimal places.) Exhihit 1-B Fueare Value (Compounded Sum) of si Paid In at the End of Each Period for a Given Namber of Time Periods (an Annuity)

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