Question

To buy a truck you can pay $14,000 cash or put down $5000 and make 24 monthly payments of $551.09. how much would you save by paying cash (to the nearest hundredth)?

Answer 1

You will save $4,226.16 because $5,000 + 24 x $551.09 = $18,226.16
To get how much is saved take the higher number and subtract the lower one,
$18,226.16 - $14,000 = $4,226.16