Question

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?

Answer 1

Divide 8,000 by 11.5 and 12.25

Answer 2

then subtract the difference and you got your answer

Answer 3

his savings is (12.25 - 11.5) % or 0.75%

multiply 8000 by .0075