Problem
A student is buying a new car. The car's price is $19,500, the sales tax is 8%, and the title, license, and registration fee is $650 to be paid in cash. Instead of buying the car now, the student has decided to save money in equal monthly amounts for 48 months and then pay cash. If the student earns 0.75% per month interest on the money she saves, how much money is the monthly savings?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.