Working

Use the following formula. r nt p [1+] 4] l n r n A= Suppose that you drive 40,000 miles per year and gas averages $4 per gallon. Complete parts a. and b. below. (3 , a. What will you save in annual fuel expenses by owning a hybrid car averaging 40 miles per gallon rather than an SUV averaging 16 miles per gallon? $lj (Round to the nearest dollar as needed) b. if you deposit your monthly fuel savings at the end of years? 3C (Round to the nearest dollar as needed.) \\ / t l k l each month into an annuity that pays 5.6% compounded monthly. how much will have saved at the end of eight