Today Hugo got a new credit card, and he made a purchase of S$1400. The card offers an introductory APR of 0% for the first 5 mo
nths and a standard APR of 30.8% thereafter. If the card compounds interest monthly, how much money will the introductory APR save Hugo in interest over the first 5 months? (Assume that Hugo will make no payments or additional purchases during the first 5 months, and ignore any possible late payment fees.)
