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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?

A $30,000

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.