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Use PMT = Round to the nearest dollar. 1 - 1+ Suppose you are thinking about buying a car and have narrowed down your choices

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Use PMT = Round to the nearest dollar. 1 - 1+ Suppose you are thinking about buying a car and have narrowed down your choices to two options: The new-car option: The new car costs $22,000 and can be financed with a four-year loan at 6.15%. The used-car option: A two-year old model of the same car costs $13,000 and can be financed with a four-year loan at 6.89%. What is the difference in monthly payments between financing the new car and financing the used car? $0 O $170 $207 O $212

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