4. Imagine you are finally able to buy a Tesla. To do so, you have arranged to borrow $45,000 from your local credit union. The interest rate on the loan is 6.50% (annually compounding). To simplify the calculations, assume that you will repay your loan over the next 3 years by making annual payments at the end of each year. How much is the annual payment on your new car loan?5. How much of the Year 2 payment will be interest?6. How much of the Year 3 payment will be principal repayment?7. How much will you pay in total interest to finance the purchase of your Tesla?