# .6.5 Suppose that you are thinking about buying a car and have narrowed down your choices...

.6.5 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 7.63%. The used-car option: A three-year old model of the same car costs \$14,000 and can be financed with a four-year loan at 7.25%. What is the difference in monthly payments between financing the new car and financing the used car? Use PMT=- -nt 1- The difference in monthly payments between financing the new car and financing the used car is s (Round to the nearest cent as needed.)

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