Polly is a Year 9 student. She currently has $3,000 in a savings account that pays 4% annually. She intends to use her current savings plus what she...

Polly is a Year 9 student. She currently has $3,000 in a savings account that pays 4%

annually. She intends to use her current savings plus what she can save over the next 4 years

to buy a car. The car will cost $15,000 in 4 years. How much should she save each year if she

intends to purchase the car in 4 years? All relevant cash flows will occur at the end of each year

and interests are compounded yearly.