Financial institutions often offer lower auto loan rates for new cars than used ones. a local credit union advertises new car loans at 2.79% apr and used car loans at 3.29% both for up to 72 months. tyresa wants to buy a car but doesn’t want to spend more than $350 a month for a maximum of four years. what is the maximum loan amount she can take out for a new car and a used car using the advertised rates? use the formula, a=p[(1+r)^n-1]/r(1+r)^n where p is the monthly payment, r is the monthly rate, and n is the number of months. show all of your steps.