Sasha plans to take out a $28,000 auto loan with an annual interest rate of 4.1%. She must choose between a 3-year or 5-year term. How can you calculate the amount of money Sasha will save if she chooses the 3-year loan? Find the compounding interest for each loan. Then add the interest to the principal of each loan. Subtract the cost of the 3-year loan from the cost of the 5-year loạn. Find the interest for each loan by multiplying the principal by the rate and by the number of years. Then add the interest to the principal of each loan. Subtract the cost of the 3-year loan from the cost of the 5-year loan. Find the monthly payment formula for each loan. Then subtract the monthly payment of the 3-year loan from the monthly payment of the 5-year loan. Multiply the result by 12. Find the monthly payment for each loan. Then use the monthly payment and total number of payments to calculate the cost of each loan. Subtract the cost of the 3-year loan from the cost of the 5-year loan.

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