Use the PMT formula to answer the question. Round to the nearest dollar. 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 $6\mathrm{.}15\%.$

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 $6\mathrm{.}89\%.$

a$)$ Calculate the payments for each option.

b$)$ What is the difference in monthly payments between financing the new car and financing the used car?