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Thomas Taylor is a high school sophomore. He currently has $7,500 in a savings account that pays 6.52 percent annually. Thomas plans to use his
Thomas Taylor is a high school sophomore. He currently has $7,500 in a savings account that pays 6.52 percent annually. Thomas 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 $11,678 in four years. How much money should Thomas 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.) Thomas should save $
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