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Karl is buying a new car. At bank A, a car loan will cost him 11.5 %. At bank B it will cost 12.25%. If he borrows $8,000, how much will he save if he borrows from bank A?

Respuesta :

Bank A: 11.5% of $8,000 = [tex] \frac{11.5}{100} \times \$8000= \$920[/tex]
Bank B: 12.25% of $8,000 = [tex] \frac{12.25}{100} \times \$8000= \$980[/tex]

He saves $980 - $920 = $60

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