Karen and mike currently insure their cars with separate companies, paying $700 and $900 a year. if they insured both cars with

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3 years ago

15

Karen and mike currently insure their cars with separate companies, paying $700 and $900 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 4 percent? use exhibit 1-b. (round time value factor to 3 decimal places and final answer to 2 decimal places.) future value $

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1 answer:

Murljashka [212] · Answer 1 · 2022-05-22T13:01:07+03:00

Murljashka [212]3 years ago

5 0

<span>Answer: Now total premium is (700+900) = 1600 so saving will be $ 160 . Future value of the savings over 10 years based on annual interest</span>