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Hamed will borrow $20,000 to purchase a car.The annual interest rate will be 6%, compounded monthly.How much interest would he save if he paid off

Hamed will borrow $20,000 to purchase a car.The annual interest rate will be 6%, compounded monthly.How much interest would he save if he paid off the loan in monthly instalments over 4 years instead of 5 years?

a) $4,983

b) $3,986

c) $956

d) $654

The answer is d) $654. I am looking for how to compute this on financial calculator with steps please.

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