Charlie took out a car loan for $13,000 at 3% simple interest. a.) how much interest will he pay after 6 years? b.) suppose he pays off the loan in 4 years instead of 6 years. how much money will he save in interest?

$2,340.00 (6 years) - $1,560.00 (4 years) =  $780  in savings if he pays the load in 4 instead of 6 years.            proof: a)  answer: a = $15,340.00(i = a - p = $2,340.00)equation: a = p(1 + rt)calculation: first, converting r percent to r a decimalr = r/100 = 3%/100 = 0.03 per year.solving our equation: a = 13000(1 + (0.03 × 6)) = 15340  a = $15,340.00the total amount accrued, principal plus interest, from simple interest on a principal of $13,000.00 at a rate of 3% per year for 6 years is $15,340.00.b: )  answer: a = $14,560.00(i = a - p = $1,560.00)equation: a = p(1 + rt)calculation: first, converting r percent to r a decimalr = r/100 = 3%/100 = 0.03 per year.solving our equation: a = 13000(1 + (0.03 × 4)) = 14560  a = $14,560.00the total amount accrued, principal plus interest, from simple interest on a principal of $13,000.00 at a rate of 3% per year for 4 years is $14,560.00.