Suppose that you are thinking about buying a car and have narrowed down your choices to two options The new-car option: The new car costs $29,000 and can be financed with a three-year loan at 7.37% The used-car option: A three-year old model of the same car costs $13,000 and can be financed with a five-year loan at 6.05%. P What is the difference in monthly payments between financing the new car and financing the used car? Use PMT - 1- The difference in monthly payments between financing the new car and financing the used car is (Round to the nearest cent as needed.)