Gmail News Translate Post Attendee - Zo... A new car costing $28,000 can be financed with a four-year loan at 6.12%. A three-year-old model of the same car costs $16,000 and is financed with a...

Extracted text: Gmail News Translate Post Attendee - Zo... A new car costing $28,000 can be financed with a four-year loan at 6.12%. A three-year-old model of the same car costs $16,000 and is financed with a four-year loan at 6.86% with monthly payments of $382.10. Use the present value of an annuity formula to find the difference in monthly payments between financing the new car and the used car. Rund to the nearest cent. ni pmt 1 P- $ 282.58 O$ 277.02 O$ 382.10 O$ 166.11