Use the following formula. nt P 1+ - 1 A = 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...

Extracted text: Use the following formula. nt P 1+ - 1 A = 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.)