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 $27000 and can be financed with a three-year loan at 7.85%. The used-car option: A three-year old model of the same car costs $14000 and can be financed with a five-year loan at 5.38%. What is the difference in monthly payments between financing the new car and financing the used car?