The amount saved when the interest rate is changed will be $10125.
When the interest rate was 2.9%, the amount will be:
= (Principal × Rate × Time) / 100
= (225000 × 2.9 × 15) / 100
= $97875
When the interest rate was 2.6%, the amount will be:
= (Principal × Rate × Time) / 100
= (225000 × 2.6 × 15) / 100
= $87750
Therefore, the amount saved will be:
= $97875 - $87750
= $10125
The amount saved is $10125
Learn more about interest on:
brainly.com/question/28627579
