Rich moved some of his money from his savings account to his checking account to cover the cost of his new car. His savings account originally had $89,848.62 in it, and now his balance is $59,998.62. Estimate how much money did Rich spend on his new car?

To estimate how much money Rich spent on his new car, we can calculate the difference between the balances of his savings account before and after the transfer. The difference between approximately $90,000 and $60,000 is $30,000. Approximations are used to save time when a precise figure isn't necessarily practical.