1. **Problem statement:** Calculate how much interest Ray will save by paying off the loan early. 2. **Formula and explanation:** Interest saved is the difference between the total interest if the loan is paid over the full term and the interest paid when the loan is paid off early. 3. **Step 1:** Calculate total interest if loan is paid over full term. 4. **Step 2:** Calculate interest paid up to the early payoff date. 5. **Step 3:** Subtract interest paid from total interest to find interest saved. 6. **Note:** Without specific loan details (principal, interest rate, term, early payoff time), the exact numeric answer cannot be computed here. Please provide the loan details to calculate the exact interest saved.