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Use the following formula. Suppose that you drive 40,000 miles per year and gas averages...

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Use the following formula. Suppose that you drive 40,000 miles per year and gas averages $4 per gallon. Complete parts a. and b. below. 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? $ (Round to the nearest dollar as needed.) b. If you deposit your monthly fuel savings at the end of each month into an annuity that pays 5.2% compounded monthly, how much will have saved at the end of four years? (Round to the nearest dollar as needed.)

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