Wes Douglas bought a new car and was a bit uncertain about whether or not he had done the right thing. Two days after he purchased it, he decided to take it back to the dealer for installation of some additional optional equipment. When Wes returned to the dealership to pick up the car after the installation, the salesman who sold Wes the car said, "You know, in the last two hours three different customers told me how much they liked the looks of your new car. One of them even wanted to know if it was for sale!" This attempt by the salesman to confirm the wisdom of Wes purchase decision seems to be aimed at reducing Wes’s:

Jamie is saving for a trip to europe. she has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 6 percent. a. if jamie were to withdraw the $1,600 from her savings account to finance the trip, how much interest would she forgo? .b. if jamie borrows the $1,600 how much will she pay in interest? c. how much does the trip cost her if she borrows rather than dip into her savings?