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?

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asked Jan 15, 2018 204k views

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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?

Mathematics
high-school

Richard Eng asked

by Richard Eng

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Bank A will cost him 9200 and Bank B will cost him 9800 so he will save a total of 600 dollars

Nutty About Natty answered Jan 17, 2018

by Nutty About Natty

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Karl is saving $60

8,000*0.115= 920

And, 8,000*0.1225= 980

Michel Ayres answered Jan 20, 2018

by Michel Ayres

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