CH9.4 Loan Interest. Devika is considering the purchase of a car. After making the down payment, she will finance $15,500. Devika is offered two maturities. On a four-year loan, Devika will pay $371.17 per month. On a five-year loan, Devika's monthly payments will be $306.99. If Devika had been able to afford the four-year loan, how much interest would she have saved compared to the five-year loan?

CH9.5 Tax Savings. Finn and Inga just borrowed $40,000 on a home equity line of credit. The interest rate for the loan is 5.75 percent for the entire year, and they took out the loan on May 1^st. Finn and Inga are in the 25 percent tax bracket. What will be their tax savings for the first year ending December 31^st?

CH9.6 Tax Savings. Noel has a 15 percent marginal tax rate. If he pays $2,600 in interest on a home equity loan in the first year, what will his tax savings be?