Question: Gary Whitmore is a high school sophomore. He currently has $7,500 in a savings account that pays 5.65 percent annually. Gary plans to use his

Gary Whitmore is a high school sophomore. He currently has $7,500 in a savings account that pays 5.65 percent annually. Gary 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 $12,000 in four years. How much money should Gary save each year if he wants to buy the car?


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