Quantitative Problem: You need $14,000 to purchase a used cac. Your wealthy uncle is willing to lend you the money as an amortized loan. He would the yoa to make annual pyments for 4 years, with the first payment to be made one year from today. He requires an 8% annual return. a. What will be your annual loan payments? Do not round intermediate calculations. Round your answer to the nearest cent. 5 b. How much of vour first payment will be applied to interest and to principal repayment? Do not round intermediate caiculations. Round your answers to the nearest cent. Interest: 4 Principal repoyment: 1