George wants to borrow $30,000 to purchase a car. After looking at a monthly budget he realizes that all he can afford to pay per month is $350. The dealership is offering a 4.77% loan. When George hears how much interest he will pay over the life of the loan, he decides to cut back on his entertainment expenses and pay $400 per month. How much in interest will George save by paying an extra $50 per month? Hint: Round any loan length calculations to the nearest quarter of a year.