A couple considering a mortgage of $100,000 have a choice of loans. One loan is an 8% loan for 20 years, and the other loan is at 8% for 30 years. Find the amount of interest that the couple can save by choosing the 20-year loan.

To find the amount of interest that the couple can save by choosing the 20-year loan, we need to calculate the total interest paid for both loans and then compare them.

Let's start by calculating the total interest paid for the 30-year loan.

The formula to calculate the total interest paid for a loan is:
Total Interest = (Loan Amount * Interest Rate * Loan Period) - Loan Amount

Using the given values:
Loan Amount = $100,000
Interest Rate = 8% (which can be written as 0.08)
Loan Period = 30 years

Total Interest for 30-year loan = ($100,000 * 0.08 * 30) - $100,000

Next, let's calculate the total interest paid for the 20-year loan.

Using the same formula:
Loan Amount = $100,000
Interest Rate = 8% (0.08)
Loan Period = 20 years

Total Interest for 20-year loan = ($100,000 * 0.08 * 20) - $100,000

Now that we have calculated the total interest paid for both loans, we can find the amount of interest that the couple can save by choosing the 20-year loan. We subtract the total interest paid for the 20-year loan from the total interest paid for the 30-year loan.

Interest Saved = Total Interest for 30-year loan - Total Interest for 20-year loan

By performing the calculations, you can find the amount of interest the couple can save by choosing the 20-year loan.