1995 AHSME Problem 3

The total in-store price for an appliance is \$99.99. A television commercial advertises the same product for three easy payments of \$29.98 and a one-time shipping and handling charge of \$9.98. How many cents are saved by buying the appliance from the television advertiser?

\mathrm{(A) \ 6 } \qquad \mathrm{(B) \ 7 } \qquad \mathrm{(C) \ 8 } \qquad \mathrm{(D) \ 9 } \qquad \mathrm{(E) \ 10 }

Full credit goes to MAA for authoring these problems. These problems were taken on the AOPS website.