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Sharon is considering the purchase of a car. After making the down payment, she will finance $ 1 1 8 2 0 . Sharon is

Sharon is considering the purchase of a car. After making the down payment, she will finance $11820. Sharon is offered three maturities. On a four-year loan, Sharon will pay $294.14 per month. On a five-year loan, Sharon's monthly payments will be $245.36. On a six-year loan, they will be $213.06. Sharon rejects the four-year loan, as it is not within her budget. So, Sharon would pay $2901.60 in interest over the life of the five-year loan. On the six-year loan, Sharon would pay $3520.32 in interest. If Sharon had been able to afford the four-year loan, how much interest would she have saved compared to the five-year loan? The interest Sharon would have paid on the four-year loan is?

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