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20 votes
20 votes
how much money will she save if she borrows the money from the bank and and pays off her credit card?

how much money will she save if she borrows the money from the bank and and pays off-example-1
User Shantell
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1 Answer

17 votes
17 votes

First, calculate the total money of the payments for 36 months, for both cases, with credit card company or not.

Proceed as follow:

With credit card:

$186 x 36 = $6,696

Without credit card:

$162 x 36 = $5,832

next, subtract the previous results:

$6,696 - $5,832 = $864

Hence, Janine will save $864 if she borrow the money from bank and pays off her credit card

User IanBussieres
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3.1k points