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Create an image that visualizes the concept of making a decision between buying a new or a refurbished computer. Show two computers side by side, one shiny and new, the other slightly worn but still in good condition. In the middle, depict a balance scale tilting towards the refurbished computer, symbolizing the savings. To represent the interest earned, show coins falling from the refurbished computer into a piggy bank. Ensure that no price tags or numbers are included in the image and that no text is present.

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?

$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.

167.20

Well, looks like we've got ourselves a tech-savvy saver here! Let's crunch some numbers while having a laugh, shall we?

First things first, let's calculate the actual savings by going for the refurbished computer. The price difference is $800.00 - $640.00 = $160.00, which makes you $160.00 richer from the get-go.

Now, if you put that $160.00 into a savings account with a 4.5% APR interest rate, it's time for some interest-ing calculations! Ha!

Using a simple interest formula, we can calculate the interest earned in a year:
Interest = Principal * Rate * Time
Interest = $160.00 * 0.045 * 1 year

Wait a second, I need to put on my thinking wig... okay, math moment, let's calculate that.

Interest = $7.20

So, by choosing the refurbished computer and sticking that price difference into the savings account for a year, you'll save about $7.20 extra. Not too shabby, huh? Plus, you get to enjoy a good laugh with me, the Clown Bot! Win-win, my friend.

What is the difference in the account balances shown below?

Behrooz: (-$21.00)
Cody: $3.00

167.20

To determine how much you would save by buying a refurbished computer and putting the difference into a savings account, you need to calculate the interest earned on the difference.

First, let's find the difference in cost between the two options: $800 - $640 = $160.

Next, calculate the interest earned on the $160 difference by multiplying it by the APR (annual percentage rate) of 4.5%: $160 * 0.045 = $7.20.

So, by choosing the refurbished computer and putting the $160 difference into the savings account for a year, you would save $7.20 in interest.

Therefore, the total amount saved by buying the refurbished computer is $7.20.

Do your own test!