Goran is taking out an amortized loan for $18,000 to o buy a new car and is deciding between the offers from two lenders. He wants to know which one would be the better deal over the life of the car loan, and by how much.

A savings and loan association has offered him a 7 year car loan at an annual interest rate of

6.7%Find the monthly payment.

His credit union has offered him a 6-year car loan at an annual interest rate of

6.5% Find the monthly payment.