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 $26,000 and can be financed with a three-year loan at 5.02%. The used-car option: A three-year old model of the same car costs $17,000 and can be financed with a three-year loan at 5.43%. PH [] What is the difference in monthly payments between financing the new car and financing the used car? Use PMT= VIDE The difference in monthly payments between financing the new car and financing the used car is $ (Round to the nearest cent as needed.) 1- -nt

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 $26,000 and can be financed with a three-year loan at 5.02%, The used-car option; A three-year old model of the same car costs $17,000 and can be financed with a three-year loan at 5.43%. The difterence in monthly payments between financing the new car and financing the used car is $ (Round to the nearest cent as needed.)