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 $31,000 and can be financed with a three year loan at 5.18% The used-car option: A three-year old model of the same car costs $17,000 and can be financed with a five-year loan at 6.35% 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 sl) (Round to the nearest cent as needed.)