AT borrowed $350,000 for a new project at 16% APR compounded quarterly over 5 years with payments of $25,752.6 made at the end of each quarter. [3 pts] Of the first payment, how much will be used for interest and how much is used to pay down the loan (principal repaid)? What is the closing balance after the first payment? [4 pts] What is the total interest paid over the 5 years? [4 pts] How much will still be owing after 1 year?