Harper is considering the purchase of a $$10,818$ used car and is trying to decide between a $48-$month and a $60-$month car loan. If the loan is for $$10,818$ at $8$ percent, what is the difference in the monthly payments?

Note: Round intermediate computations to at least five $(5)$ decimal places.

Click on the table icon to view the Monthly Installment Loan Payment Factor $($MILPF$)$ table:

The monthly payment for the $48-$month car loan is $

$($Round to the nearest cent.$)$

Monthly Installment Loan Tables $($$$1,000$ loan with interest payments compounded monthly$)$

Loan Maturity $($in months$)$

$\backslash$table$[[$Loan Maturity $($in months$)],[$Interest$,6,12,18,24,30,36,48,60,72],[4\mathrm{.}00\%,168\mathrm{.}62,85\mathrm{.}15,57\mathrm{.}33,43\mathrm{.}42,35\mathrm{.}08,29\mathrm{.}52,22\mathrm{.}58,18\mathrm{.}42,15\mathrm{.}65],[4\mathrm{.}25\%,168\mathrm{.}74,85\mathrm{.}26,57\mathrm{.}44,43\mathrm{.}54,35\mathrm{.}19,29\mathrm{.}64,22\mathrm{.}69,18\mathrm{.}53,15\mathrm{.}76],[4\mathrm{.}50\%,168\mathrm{.}86,85\mathrm{.}38,57\mathrm{.}56,43\mathrm{.}65,35\mathrm{.}31,29\mathrm{.}75,22\mathrm{.}80,18\mathrm{.}64,15\mathrm{.}87],[4\mathrm{.}75\%,168\mathrm{.}98,85\mathrm{.}49,57\mathrm{.}67,43\mathrm{.}76,35\mathrm{.}42,29\mathrm{.}86,22\mathrm{.}92,18\mathrm{.}76,15\mathrm{.}99],[5\mathrm{.}00\%,169\mathrm{.}11,85\mathrm{.}61,57\mathrm{.}78,43\mathrm{.}87,35\mathrm{.}53,29\mathrm{.}97,23\mathrm{.}03,18\mathrm{.}87,16\mathrm{.}10],[5\mathrm{.}25\%,169\mathrm{.}23,85\mathrm{.}72,57\mathrm{.}89,43\mathrm{.}98,35\mathrm{.}64,30\mathrm{.}08,23\mathrm{.}14,18\mathrm{.}99,16\mathrm{.}22],[5\mathrm{.}50\%,169\mathrm{.}35,85\mathrm{.}84,58\mathrm{.}01,44\mathrm{.}10,35\mathrm{.}75,30\mathrm{.}20,23\mathrm{.}26,19\mathrm{.}10,16\mathrm{.}34],[5\mathrm{.}75\%,169\mathrm{.}47,85\mathrm{.}95,58\mathrm{.}12,44\mathrm{.}21,35\mathrm{.}87,30\mathrm{.}31,23\mathrm{.}37,19\mathrm{.}22,16\mathrm{.}46],[6\mathrm{.}00\%,169\mathrm{.}60,86\mathrm{.}07,58\mathrm{.}23,44\mathrm{.}32,35\mathrm{.}98,30\mathrm{.}42,23\mathrm{.}49,19\mathrm{.}33,16\mathrm{.}57],[6\mathrm{.}25\%,169\mathrm{.}72,86\mathrm{.}18,58\mathrm{.}34,44\mathrm{.}43,36\mathrm{.}09,30\mathrm{.}54,23\mathrm{.}60,19\mathrm{.}45,16\mathrm{.}69],[6\mathrm{.}50\%,169\mathrm{.}84,86\mathrm{.}30,58\mathrm{.}46,44\mathrm{.}55,36\mathrm{.}20,30\mathrm{.}65,23\mathrm{.}71,19\mathrm{.}57,16\mathrm{.}81],[6\mathrm{.}75\%,169\mathrm{.}96,86\mathrm{.}41,58\mathrm{.}57,44\mathrm{.}66,36\mathrm{.}32,30\mathrm{.}76,23\mathrm{.}83,19\mathrm{.}68,16\mathrm{.}93],[7\mathrm{.}00\%,170\mathrm{.}09,86\mathrm{.}53,58\mathrm{.}68,44\mathrm{.}77,36\mathrm{.}43,30\mathrm{.}88,23\mathrm{.}95,19\mathrm{.}80,17\mathrm{.}05],[7\mathrm{.}25\%,170\mathrm{.}21,86\mathrm{.}64,58\mathrm{.}80,44\mathrm{.}89,36\mathrm{.}55,30\mathrm{.}99,24\mathrm{.}06,19\mathrm{.}92,17\mathrm{.}17],[7\mathrm{.}50\%,170\mathrm{.}33,86\mathrm{.}76,58\mathrm{.}91,45\mathrm{.}00,36\mathrm{.}66,31\mathrm{.}11,24\mathrm{.}18,20\mathrm{.}04,17\mathrm{.}29],[7\mathrm{.}75\%,170\mathrm{.}45,86\mathrm{.}87,59\mathrm{.}03,45\mathrm{.}11,36\mathrm{.}77,31\mathrm{.}22,24\mathrm{.}30,20\mathrm{.}16,17\mathrm{.}41],[8\mathrm{.}00\%,170\mathrm{.}58,86\mathrm{.}99,59\mathrm{.}14,45\mathrm{.}23,36\mathrm{.}89,31\mathrm{.}34,24\mathrm{.}41,20\mathrm{.}28,17\mathrm{.}53],[8\mathrm{.}25\%,170\mathrm{.}70,87\mathrm{.}10,59\mathrm{.}25,45\mathrm{.}34,37\mathrm{.}00,31\mathrm{.}45,24\mathrm{.}53,20\mathrm{.}40,17\mathrm{.}66],[8\mathrm{.}50\%,170\mathrm{.}82,87\mathrm{.}22,59\mathrm{.}37,45\mathrm{.}46,37\mathrm{.}12,31\mathrm{.}57,24\mathrm{.}65,20\mathrm{.}52,17\mathrm{.}78],[8\mathrm{.}75\%,170\mathrm{.}95,87\mathrm{.}34,59\mathrm{.}48,45\mathrm{.}57,37\mathrm{.}23,31\mathrm{.}68,24\mathrm{.}77,20\mathrm{.}64,17\mathrm{.}90],[9\mathrm{.}00\%,171\mathrm{.}07,87\mathrm{.}45,59\mathrm{.}60,45\mathrm{.}68,37\mathrm{.}35,31\mathrm{.}80,24\mathrm{.}89,20\mathrm{.}76,18\mathrm{.}03],[9\mathrm{.}25\%,171\mathrm{.}19,87\mathrm{.}57,59\mathrm{.}71,45\mathrm{.}80,37\mathrm{.}46,31\mathrm{.}92,25\mathrm{.}00,20\mathrm{.}88,18\mathrm{.}15],[9\mathrm{.}50\%,171\mathrm{.}32,87\mathrm{.}68,59\mathrm{.}83,45\mathrm{.}91,37\mathrm{.}58,32\mathrm{.}03,25\mathrm{.}12,21\mathrm{.}00,18\mathrm{.}27],[9\mathrm{.}75\%,171\mathrm{.}44,87\mathrm{.}80,59\mathrm{.}94,46\mathrm{.}03,37\mathrm{.}70,32\mathrm{.}15,25\mathrm{.}24,21\mathrm{.}12,18\mathrm{.}40],[10\mathrm{.}00\%,171\mathrm{.}56,87\mathrm{.}92,60\mathrm{.}06,46\mathrm{.}14,37\mathrm{.}81,32\mathrm{.}27,25\mathrm{.}36,21\mathrm{.}25,18\mathrm{.}53],[10\mathrm{.}25\%,171\mathrm{.}68,88\mathrm{.}03,60\mathrm{.}17,46\mathrm{.}26,37\mathrm{.}93,\backslash$table