You are debating about whether to buy a new computer for $800.00 or a refurbished computer with the same equipment for $640.00. If a savings account earns 4.5% APR interest, how much do you really save with a refurbished computer if you put the difference into the savings account for a year?

5 answers

Do your own test!

$800 - $640 = $160
So you invest $160 for one year and get 4.5 % interest on it.
$160 * 1.045 = $167.20 in the bank after one years interst is added.

What is the difference in the account balances shown below?

Behrooz: (-$21.00)
Cody: $3.00

167.20

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