Item$4$

$10$

points

Time Remaining $2$ hours $49$ minutes $45$ seconds$02$:$49$:$45$

eBookReferencesCheck my workCheck My Work button is now enabled$1$Item $4$

Time Remaining $2$ hours $49$ minutes $45$ seconds$02$:$49$:$45$

Problem $6-4($LO$6\mathrm{.}1)$

A service contract for a video projection system costs $$80$ a year. You expect to use the system for six years. Instead of buying the service contract, what would be the future value of these annual amounts after six years if you earn $3$ percent on your savings? Use Exhibit $1-$B$.($Round FVA factor to $3$ decimal places and final answer to $2$ decimal places.$)$