Noel and Herman are now trying to decide between a 48-month and a 60-month car loan. If the loan is for $9,568 at 5percent, what is the difference in the monthly payments? 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) The monthly payment for the 60-month car loan is (Round to the nearest cent.) The difference between the monthly payments is S (Round to the nearest cent) 4.00% 4.25% 4.50% 4.75% 5.00% 5.25% 5.50% 5.75% 6.00% 6.25% 6.50% 6.75% 7.00% 7.25% Monthly Installment Loan Tables ($1,000 loan with interest payments compounded monthly) 6 12 18 24 30 36 48 60 72 84 168.62 85.15 57.33 43.42 35.08 29.52 22.58 18.42 15.65 13.67 168.74 85.26 57.44 43.54 35.19 29.64 22.69 18.53 15.76 13.78 168.86 85.38 57.56 43.65 35.31 29.75 22.80 18.64 15.87 13.90 168.98 85.49 57.67 43.76 35.42 29.86 22.92 18.76 15.99 14.02 169.11 85.61 57.78 43.87 35.53 29.97 23.03 18.87 16.10 14.13 169.23 85.72 57.89 43.98 35.64 30.08 23.14 18.99 16.22 14.25 169.35 85.84 58.01 44.10 35.75 30.20 23.26 19.10 16.34 14.37 169.47 85.95 58.12 44.21 35.87 30.31 23.37 19.22 16.46 14.49 169.60 86.07 58.23 44.32 35.98 30.42 23.49 19.33 16.57 14.61 169.72 86.18 58.34 44.43 36.09 30.54 23.60 19.45 16.69 14.73 169.84 86.30 58.46 44.55 36.20 30.65 23.71 19.57 16.81 14.85 169.96 86.41 58.57 44.66 36.32 30.76 23.83 19.68 16.93 14.97 170.09 86.53 58.68 44.77 36.43 30.88 23.95 19.80 17.05 15.09 170.21 86.64 58.80 44.89 36.55 30.99 24.06 19.92 17.17 15.22 96 12.19 12.31 12.42 12.54 12.66 12.78 12.90 13.02 13.14 13.26 13.39 13.51 13.63 13.76 PH TI .LT 45.00 45.11 3 7.50% 7.75% 8.00% 8.25% 8.50% 8.75% 9.00% 9.25% 9.50% 9.75% 10.00% 10.25% 10.50% 10.75% 11.00% 11.25% 170.33 170.45 170.58 170.70 170.82 170.95 171.07 171.19 171.32 171.44 171.56 171.68 171.81 171.93 172.05 172 18 86.76 86.87 86.99 87.10 87.22 87.34 87 45 87.57 87 68 87.80 87.92 88.03 88.15 88 27 88.38 88.50 58.91 59.03 59.14 59.25 59.37 59.48 59.60 59.71 59.83 59.94 60.06 60 17 60.29 60.40 60.52 60.63 45.23 45.34 45.46 45.57 45.68 45.80 45.91 46.03 46.14 46.26 46.38 46.49 46.61 46.72 36.66 36.77 36.89 37.00 37.12 37.23 37.35 37-46 37.58 37.70 37.81 37.93 38.04 38.16 38.28 38.40 31.11 31.22 31.34 31 45 31.57 31.68 31.80 31.92 32.03 32.15 32.27 32.38 32.50 32.62 32.74 3286 24.18 24.30 24.41 24.53 24.65 24.77 24.89 25.00 25.12 25.24 25.36 25.48 25.60 25.72 25.85 25.97 20.04 20.16 20.28 20.40 20.52 20.64 20.76 20.88 21.00 21.12 21.25 21.37 21.49 21.62 21.74 21.87 17.29 17:41 17.53 17.66 17.78 17.90 18.03 18.15 18.27 18.40 18.53 18.65 18.78 18.91 19 03 19 16 15.34 15.46 15.59 15.71 15.84 15.96 16.09 16.22 16.34 16.47 16.60 16.73 16.86 16.99 17 12 17 25 13.88 14.01 14.14 14.26 14.39 14.52 14.65 14.78 14.91 15.04 15.17 15.31 15.44 15.57 15.71 15 84 |- 46.84 46.96 47.07 47.19 47.31 47.42 47.54 47 66 1150% 1175% 12.00% 12.25% 12 50% 12.75% 13.00% 13 25% 13 50% 13 75% 14 60% 14.25% 14 50% 14 75% 1500% 15.25% 172.30 172.42 17255 172.67 172.80 172.92 173 04 173 17 173.29 173 41 173 54 173 66 173 79 173 91 174 03 174 16 88.62 88.73 88.85 88.97 89.08 89.20 89.32 89.43 89 55 89.67 89 79 89 90 90 02 90 14 90.26 90 38 60.75 60.87 60.98 61.10 61.21 61.33 6145 61.56 61.68 61.80 61.92 62.03 62.15 62.27 62.38 62.50 38.51 38.63 38.75 38.87 38.98 39.10 39.22 39 34 39.46 39.58 39.70 39.82 39.94 40.06 40 18 40 30 32.98 33.10 33.21 33.33 33.45 33.57 33.69 33.81 33.94 34.06 34.18 34 30 34.42 34 54 34 67 34.79 26.09 26.21 26.33 26.46 26.58 26.70 26.83 26.95 27.08 27.20 27.33 27 45 27 58 27 70 27 83 27.96 21.99 22.12 22.24 22.37 22.50 22.63 22.75 22.88 23.01 23.14 23.27 23.40 23 53 23.66 23.79 23.92 19.29 19.42 19.55 19.68 19.81 19.94 20.07 20.21 20.34 20.47 20.61 20.74 20.87 21.01 21.15 21.28 17.39 17.52 17.65 17.79 17.92 18.06 18.19 18.33 18.46 18.60 18.74 18.88 19.02 19 16 19.30 19.44 15.98 16.12 16.25 16.39 16.53 16.67 16.81 16.95 17.09 17:23 17.37 17:51 17.66 17 80 17.95 18.09 47.78 47.89 4801 48.13 48.25 48.37 48.49 48.61 i - 15.50% 15.75% 16.00% 16.25% 16.50% 16.75% 17.00% 17.25% 17.50% 17.75% 18.00% 18.25% 18.50% 18.75% 19.00% 19.25% 174.28 174.41 174.53 174.65 174.78 174.90 175.03 175.15 175.28 175 40 175.53 175 65 175.77 175.90 176.02 176.15 90.49 90.61 90.73 90.85 90.97 91.09 91.20 91.32 91.44 91 56 91.68 91.80 91.92 92.04 92.16 92.28 62.62 62.74 62.86 62.97 63.09 63.21 63.33 63.45 63.57 63.69 63.81 63.93 64.04 64.16 64.28 64.40 48.72 48.84 48.96 49.08 49.20 49.32 49.44 49.56 49.68 49.80 49.92 50.04 50.17 50.29 50.41 50.53 40.42 40.54 40.66 40.78 40.91 41.03 41.15 41.27 41.39 41.52 41.64 41.76 41.89 42.01 42.13 42.26 34.91 35.03 35.16 35.28 35.40 35.53 35.65 35.78 35.90 36.03 36.15 36.28 36.40 36.53 36.66 36.78 28.08 28.21 28.34 28.47 28.60 28.73 28.86 28.98 29.11 29.24 29.37 29.51 29.64 29.77 29.90 30.03 24.05 24 19 24.32 24.45 24.58 24.72 24.85 24.99 25.12 25 26 25.39 25.53 25.67 25.80 25.94 26.08 21.42 21.55 21.69 21.83 21.97 22.11 22.25 22.39 22.53 22.67 22.81 22.95 23.09 23.23 23.38 23.52 19.58 19.72 19.86 20.00 20.15 20.29 20.44 20.58 20,73 20.87 21.02 21.16 21.31 21.46 21.61 21.76 18.24 18.38 18.53 18.68 18.82 18.97 19.12 19.27 19.42 19.57 19.72 19.88 20.03 20.18 20.33 20.49 19.25% 19.50% 19.75% 20.00% 20.25% 20.50% 20.75% 21.00% 21.25% 21.50% 21.75% 22.00% 22.25% 22.50% 22.75% 23.00% 322504 176.15 176.27 176 40 176.52 176.65 176.77 176.90 177.02 177.15 177.27 177.40 177.52 177 65 177.77 177 90 178 02 170 15 Il collo 92.28 92.40 92.51 92.63 92.75 92.87 92.99 93.11 93.23 93.35 93.47 93.59 93.71 93.84 93.96 94.08 64.40 64.52 64.64 64.76 64.88 65.00 65.12 65.24 65.37 65.49 65.61 65.73 65.85 65.97 66.09 66.21 6021 50.53 50.65 50.77 50.90 51.02 51.14 51.26 51.39 51.51 51.63 51.75 51.88 5200 52 13 52 25 52.37 52.50 42.26 42.38 42.51 42.63 42.75 42.88 43.00 43.13 43.26 43.38 43.51 43.63 43.76 43.89 44.01 44 14 14127 36.78 36.91 3704 37.16 37.29 37.42 37.55 37 68 37.80 37.93 38.06 38.19 38.32 38.45 38.58 38.71 30.81 30.03 30.16 30.30 30.43 30.56 30.70 30.83 30.97 31.10 31.24 31.37 31.51 31.64 31.78 31 91 32.05 37:10 26.08 26.22 26.35 26.49 26.63 26.77 26.91 27.05 27.19 27.34 27.48 27.62 27.76 27.90 28.05 28.19 2022 23.52 23.66 23.81 23.95 24.10 24.24 24.39 24.54 24.68 24.83 24.98 25.13 25.27 25 42 25.57 25.72 26.87 2176 21.91 22.06 22.21 22.36 22.51 22.66 22.81 22.96 23.12 23.27 23.43 23.58 23.74 23.89 24 05 2420 20.49 20.64 20.80 20.95 21.11 21 27 21.42 21.58 21.74 21.90 22.06 22.22 22.38 22.54 22 70 22.86 22.02 A 1 21.25% 21.50% 21.75% 22.00% 22.25% 22.50% 22.75% 23.00% 23 25% 23.50% 23 75% 24.00% 24 25% 24 50% 24.75% 25 00% 177.15 177 27 177 40 177.52 177,65 177 77 17790 178 02 178 15 178 27 178 40 178 53 178 65 178 78 178 90 179 03 93.23 93.35 93 47 93.59 93 71 93 84 93.96 94 08 94 20 94 32 94 44 94.56 94 68 94 80 94 92 95 04 65,37 65.49 65 61 65.73 65 85 65.97 66.09 66.21 66 34 66.46 66.58 66 70 66 82 66.95 67 07 67 19 51.51 51.63 51.75 51.88 52.00 52.13 52 25 52.37 52 50 52.62 52.75 5287 53 00 53.12 53 25 53 37 43.26 43.38 43.51 43.63 43.76 43.89 44.01 44.14 44.27 44.39 44.52 44.65 44.78 4491 45.03 45 16 37.80 37.93 38.06 38.19 38.32 38.45 38.58 38.71 38.84 38.97 39 10 39.23 39 36 39.50 39 63 39.76 31.10 31.24 31.37 31.51 31.64 31.78 31.91 32.05 32.19 32.33 32.46 32.60 32.74 32.88 33.02 33.16 27.19 27.34 27 48 27.62 27.76 27.90 28.05 28.19 28.33 28.48 28.62 28.77 28.91 29.06 29.20 29.35 24.68 24.83 24.98 25.13 25.27 25.42 25.57 25.72 25.87 26.02 26.18 26.33 26.48 26.63 26.78 26.94 22.96 23.12 23.27 23.43 23.58 23.74 23.89 24.05 24.20 24 36 24.52 24.68 24.83 24.99 25.15 25.31 21.74 21.90 22.06 22.22 22.38 22.54 22.70 22.86 23.02 23.19 23.35 23.51 23.68 23 84 24.01 24 17 1 - ***** 1