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Anthony Walker is a high school sophomore. He currently has $7,500 in a savings account that pays 5.63 percent annually. Anthony plans to use his
Anthony Walker is a high school sophomore. He currently has $7,500 in a savings account that pays 5.63 percent annually. Anthony plans to use his current savings plus what he can save over the next four years to buy a car. He estimates that the car will cost $12,495 in four years. How much money should Anthony save each year if he wants to buy the car? (Round factor values to 6 decimal places, e.g. 1.521253 and the final answer to 2 decimal place e.g. 15.25.)
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