Question

I just need question number 3pls is away but still I don’t get it

Answer 1

SOLUTION

Given the question in the image, the following are the solution steps to answer the question.

STEP 1: Get the money in the bank account

$\begin{gathered} From\text{ the question 1,} \\ savings\text{ after 4 years equals to the price of the car which is equal to \ 6366.40} \end{gathered}$

STEP 2: Calculate the amount of payment after taking 4 year loan

Using the chart, the amount to be paid will be:

$152.18\times48=7304.64$

STEP 3: Amount saved in interest will be:

$7304.64-6366.40=938.24$

Hence, the amount saved in interest will be $938.24