Loan 11 Jonas wants to take out a bank loan of $7,500 to purchase a used car. The table
below shows the terms and interest from two banks he has been given. How much
money would he save be choosing to go with First General Bank?
Loan
Interest Monthly
Bank
Amount Term Rate Payment
Central Bank $7,500 60 6.8% $147.80
months
First General $7,500 48 7.0% $179.60
Bank
months
Record your answer and fill in the bubbles on your answer document. Be sure to use
the correct place value.