We present a derivation of the recently proposed eighth-order phase-field crystal model [A. Jaatinen, Phys. Rev. E 80, 031602 (2009)] for the crystallization of a solid from an undercooled melt. The model is used to study the planar growth of a two-dimensional hexagonal crystal, and the results are compared against similar results from dynamical density functional theory of Marconi and Tarazona, as well as other phase-field crystal models. We find that among the phase-field crystal models studied, the eighth-order fitting scheme gives results in good agreement with the density functional theory for both static and dynamic properties, suggesting it is an accurate and computationally efficient approximation to the density functional theory.