- Assignment 4 I Saved Problem 8 7 Calculating Insurance Savings Lo5 6 George And Yujia Currently Insure Their Cars Wit 1 (124.46 KiB) Viewed 42 times
Assignment #4 i Saved Problem 8-7 Calculating Insurance Savings [LO5] 6 George and Yujia currently insure their cars with separate companies, paying $2,000 and $1,550 a year. If they insured both cars with the same company, they would save 10 percent on the annual premiums. What would be the future value of the annual savings over 10 years based on an annual interest rate of 9 percent? Use Exhibit 1B-2. (Round your final answer to 2 decimal places. Do not round intermediate calculations. Omit the "$" sign in your response.) Future value of annual savings $ 3 points References