Please answer it accurately, fully, and be clear to which the answer.

Amortized Loans n important application o-Select interest involves amortised leans Some common tyoes of amortized loans are automobile loans, home mortgage loans, and business loans. Each loan payment consists of interest and repayment of p ncipal. This breakdown is often developed in an a tization schedule Interest s Select in the first pe od and Select- over the life of the loan, while the p ncipal repayment is Select in the f st period and it -Select- thereafter Quantitative Problem: You need $10,000 to purchase a used car. Your wealthy uncle is willing to lend you the money as an amortized loan. He would like you to make annual payments for 4 years, with the first payment to be made one yea from today. He requires a 9% annual return. . What will be your annual loan payments? Round your answer to the nearest cent. Do not round intermediate calculations. b. How much of your first payment will be applied to interest and to principal repayment? Round your answer to the nearest cent. Do not round intermediate calculations. Interest:$ Principal repayment: s Check My Work ( remaining) Icon Ky Amortized Loans n important application o-Select interest involves amortised leans Some common tyoes of amortized loans are automobile loans, home mortgage loans, and business loans. Each loan payment consists of interest and repayment of p ncipal. This breakdown is often developed in an a tization schedule Interest s Select in the first pe od and Select- over the life of the loan, while the p ncipal repayment is Select in the f st period and it -Select- thereafter Quantitative Problem: You need $10,000 to purchase a used car. Your wealthy uncle is willing to lend you the money as an amortized loan. He would like you to make annual payments for 4 years, with the first payment to be made one yea from today. He requires a 9% annual return. . What will be your annual loan payments? Round your answer to the nearest cent. Do not round intermediate calculations. b. How much of your first payment will be applied to interest and to principal repayment? Round your answer to the nearest cent. Do not round intermediate calculations. Interest:$ Principal repayment: s Check My Work ( remaining) Icon Ky