Shaan and Anita currently insure their cars with separate companies, paying $850 and $675 a year. If they insure both cars with the same company, they would save 10 percent on ther annual premiums. What would be the future value of the annual savings over 8 years based on an annual interest rate of 8 percent? Use Exhibit 1-B. (Do not round intermediate calculations. Round time value factor to 3 decimal places and final answer to 2 decimal places.)

The percentage for 8yrs and 8% is 10.637