4-16 A student is buying a new car. The car's price is $19,500, the sales tax is 8%, and the title, license, and registration fee is $650 to be paid in cash. Instead of buying the car now, the stu- dent has decided to save money in equal monthly amounts for 48 months and then pay cash. If the student earns 0.75% per month interest on the money she saves, how much money is the monthly savings?