Joe is interested to buy a new car. He has shortlisted 2 cars, which he intends to drive for 10 years. The following tables contain specifications of the two cars, interest rates for car loans as well as the applicable road tax.

1. Calculate the annual road tax for Model A using the correct engine-capacity band.

For Model A, $EC=1498$, so $1000<EC\leq1600$.

$\text{Road tax}=[500+0.75(1498-1000)]\times0.782$
$=[500+0.75(498)]\times0.782$
$=(500+373.50)\times0.782$
$=\$683.677$

2. Calculate the annual road tax for Model B using the correct engine-capacity band.

For Model B, $EC=1691$, so $1600<EC\leq3000$.

$\text{Road tax}=[950+1.5(1691-1600)]\times0.782$
$=[950+1.5(91)]\times0.782$
$=(950+136.50)\times0.782$
$=\$849.643$

3. Find the difference in road tax payable.

$849.643-683.677=165.966$

To the nearest cent, the difference is $\char36{}165.97$.