Karl is buying a new car. At bank a car loan will cost him 11.5%. At bank B, it will cost 12.25% if he borrows $8,00, how much will he save if he borrows from bank a?

Question

Mathematics

Tiana Adkins

20 September, 08:36

Karl is buying a new car. At bank a car loan will cost him 11.5%. At bank B, it will cost 12.25% if he borrows $8,00, how much will he save if he borrows from bank a?

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Answers (1)

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Itzel · Answer 1

I'm just going to go out on a limb and guess that you mean to type $8,000.

If so then he will be saving $60.

The way I found that was by multiplying the $8,000 by the %s in decimal form

So, 8,000*0.115 = 920

And, 8,000*0.1225 = 980

980-920=60. Karl is saving $60