Quantitative Problem: You need $17,000 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 year from today. He requires an 8% annual return. 3. What will be your annual loan payments? Do not round intermediate calculations. Round your answer to the nearest cent. s b. How much of vour first payment will be applied to interest and to principal repayment? Do not round intermediate calculations. Round your answers to the nearest cent. Interest: 5 Principal repayment: $