Karen and Mike currently insure their cars with separate companies, paying $700 and $900 a year. If
Question:
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?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
Karen Present Value 800 saving Rate 10 Annual saving amount 10 o...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Focus On Personal Finance
ISBN: 9781265521974
7th Edition
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart
Question Posted:
Students also viewed these Business questions
-
Two methods were used to measure fluorescence lifetime of a dye. Are the standard deviations significantly different? Are the means significantly different? Quantity Mean lifetime (ns) Standard...
-
Beverly and Kyle Nelson currently insure their cars with separate companies paying $450 and $375 a year. If they insured both cars with the same company, they would save 10 percent on the annual...
-
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....
-
Cindy purchased a building for $1,000,000. How should she deal with the expense on her tax return? a) She must deduct the $1,000,000 in the year of purchase. b) She must not deduct anything and wait...
-
Explain and draw a graph to illustrate the effects of ways to control the headwinds on aggregate expenditure and aggregate demand in both the short run and the long run.
-
Compute the mean, median, and mode for the following three sets of scores. Do it by hand or using Excel. Show your work, and if you are using Excel, print out a copy of the output. Score 1 Score 2...
-
What are the ways that social media sites are affecting courtrooms?
-
Turnoverthe rate at which employees leave their jobsis notoriously high in the fast-food industry. According to the National Restaurant Association, more than half of all managers in limited-service...
-
The city of Las Americas is dissatisfied with the private ambulance services. The city decided to purchase an ambulance operating contract and started operation of a municipal emergency medical...
-
The mobile in Fig. 9-71 is in equilibrium. Object B has mass of 0.885 kg. Determine the masses of object A, C, and D. (Neglect the weights of the crossbars) 7.50 cm 30.00 cm 15.00 cm 5.00 cm 17.50 cm...
-
Given that particular solution. has initial conditions when x = 0, find the particular solution. dy dx dy 5+4y=x+e-2x dx
-
What annual medical costs will Ronald pay using the sample medical expenses provided if he enrolls in the Blue Cross/Blue Shield plan? Ronald Roth started his new job as controller with Aerosystems...
-
Explain the relationship of predetermined times to standard data.
-
A charge Q acts on test charge to make an electric field, E. The strength of the field is measured in 80 N/C at 40 cm away. What would the field strength be 80 cm away with a charge of 1/2 Q? Explain.
-
The following data for the Beta Company pertain to the production of 3,000 teapots during March: (All materials purchased were used) Standard Direct Material Price: Total Actual Cost in Direct...
-
A 0.400 kg sample of aluminum (c = 9.10 x 10 2 J/kgC) at 95 C is dropped into a 0.550 kg pot of water which is at 18 C. What temperature will the mixture come to? How much thermal energy is absorbed...
-
How far from a -7.20 C point charge must a +2.10 C point charge be placed in order for the electric potential energy of the pair of charges to be -0.600 J? (Take the energy to be zero when the...
-
Using the following information, on a blank piece of paper divided into two sections, one section titled bank balance, the other section titled cheque book balance, make a rough draft bank...
-
Campbell Manufacturing Company (CMC) was started when it acquired $80,000 by issuing common stock. During the first year of operations, the company incurred specifically identifiable product costs...
-
Should U.S. antidumping laws be stated in terms of average total costs or average variable costs?
-
In 1994, you purchased a $1,000 corporate bond issued by Boeing. At the time, the interest rate for the bond was 6 percent. Today, comparable bonds are paying 4.30 percent. a. What is the approximate...
-
Five years ago, you purchased a $1,000 corporate bond issued by General Electric. The interest rate for the bond was 4 percent. Today comparable bonds are paying 5 percent. a. What is the approximate...
-
What is the difference between a Treasury bill, a Treasury note, a Treasury bond, and TIPS?
-
Part E Let V = -6.0 +8.5 and 1 V = 4.5 + 4.4 . Determine the magnitude of V1+V2. Express your answer using two significant figures. |1+V2|= Submit Request Answer Part F Determine the direction of...
-
Here are three vectors in meters: a = 2.50 +3.60 + 3.60k = 2.00 4.00 + 2.00 = 2.00 +3.00 +1.00k What results from (a) d (d + d), (b) d (d2 d), and d (d2 + 73) ((c), (d) and (e) for , and I components...
-
88. A body weighing 40 lb starts from rest and slides down a plane at an angle of 30 with the horizontal for which the coefficient of friction f = 0.3. How far will it move during the third second?
Study smarter with the SolutionInn App