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Shaan and Anita currently insure their cars with separate companies, paying $810 and $655 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 $810 and $655 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 9 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.) Exhibit 1-B Future Value (Compounded Sum) of S1 Paid In at the End of Each Period for a Given Number of Time Periods (an Annuity) \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|} \hline Period & 15 & 25 & 3. & 4% & 5v & 6v & 75 & 8V & 98 & 10v & 115 \\ \hline 1 & 1.000 & 1.060 & 1.000 & 1.000 & 1.000 & 1.000. & 1.000 & 1.000 & 1.000 & 1.080 & 1.000 \\ \hline 2 & 2.010 & 2.020 & 2.030 & 2.040 & 2.050 & 2.060 & 2.070 & 2.080 & 2.090 & 2.100 & 2.110 \\ \hline 3 & 3.030 & 3.060 & 3.091 & 3.122 & 3.153 & 3.184 & 3.215 & 3.246 & 3.278 & 3.310 & 3.342 \\ \hline 4 & 4.060 & 4.122 & 4.184 & 4.246 & 4.310 & 4.375 & 4.440 & 4.506 & 4.573 & 4.641 & 4.710 \\ \hline 5 & 5.101 & 5.204 & 5.309 & 5.416 & 5.526 & 5.637 & 5.751 & 5.867 & 5.985 & 6.105 & 6.228 \\ \hline 6 & 6.152 & 6.308 & 6.468 & 6.633 & 6.802 & \begin{tabular}{l} 6.975 \\ \end{tabular} & 7.153 & 7.336 & 7.523 & 7.716 & 7.913 \\ \hline 7 & 7.214 & 7.434 & 7.662 & 7.898 & 8.142 & 8.394 & 8.654 & 8.923 & 9.200 & 9.487 & 9.783 \\ \hline 8 & 8.286 & 8.583 & 8.892 & 9.214 & 9.549 & 9.897 & 10.260 & 10.637 & 11.028 & 11,436 & 11.859 \\ \hline 9 & 9.369 & 9.755 & 10.159 & 10.583 & 11.027 & 11,491 & 11.978 & 12.488 & 13.021 & 13.579 & 14.164 \\ \hline 10 & 10.462 & 10.950 & 11.464 & 12.006 & 12.578 & 13.181 & 13.816 & 14.487 & 15.193 & 15.937 & 16.722 \\ \hline 11 & 11.567 & 12.169 & 12.808 & 13.486 & 14.207 & 14.972 & 15.784 & 16.645 & 17.560 & 18.531 & 19.561 \\ \hline 12 & 12,683 & 13.412 & 14.192 & 15.026 & 15.917 & 16.870 & 17.888 & 18.977 & 20.141 & 21.384 & 22.713 \\ \hline 13 & 13.809 & 14.680 & 15.618 & 16.627 & 17.713 & 18.882 & 20.141 & 21.495 & 22.953 & 24.523 & 26.212 \\ \hline 14 & 14.947 & 15.974 & 17.086 & 18.292 & 19.599 & 21.015 & 22.550 & 24.215 & 26.019 & 27.975 & 30.095 \\ \hline 15 & 16.097 & 17.293 & 18.599 & 20.024 & 21.579 & 23.276 & 25.129 & 27.152 & 29.361 & 31.772 & 34.405 \\ \hline 16 & 17.258 & 18.639 & 20.157 & 21.825 & 23.657 & 25.673 & 27.888 & 30.324 & 33.003 & 35.950 & 39.190 \\ \hline 17 & 18,430 & 20.012 & 21.762 & 23.698 & 25.840 & 28.213 & 30.840 & 33.750 & 36.974 & 40.545 & 44.501 \\ \hline 18 & 19.615 & 21.412 & 23.414 & 25.645 & 28.132 & 30.986 & 33.999 & 37.450 & 41.301 & 45.599 & 50.396 \\ \hline 19 & 20.811 & 22.841 & 25.117 & 27.671 & 30.539 & 33.760 & 37.379 & 41.446 & 46.018 & 51.259 & 56.939 \\ \hline 20 & 22.019 & 24.297 & 26.870 & 29.778 & 33.066 & 36.786 & 40.995 & 45.762 & 51.160 & 57.275 & 64.203 \\ \hline 25 & 28.243 & 32.030 & 36.459 & 41.646 & 47.727 & 54.865 & 63.249 & 73.106 & 84.701 & 98.347 & 114,410 \\ \hline 30 & 34.785 & 40.588 & 47.575 & 56.085 & 66.439 & 79.058 & 94.461 & 113.280 & 136.310 & 164.490 & 199.020 \\ \hline 40 & 48.886 & 69.402 & 75.401 & 95.026 & 120.800 & 154.760 & 199.640 & 259.060 & 337.890 & 442.590 & 581.830 \\ \hline 50 & 64.463 & 84.579 & 112.800 & 152.670 & 209.350 & 290.340 & 406.530 & 573.770 & 815.080 & 1,163.900 & 1,668.800 \\ \hline \end{tabular}

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