Please answer in detail, thank you!

3. Time to get a new car. You've had your eye on the 2022 Maserati MC20 (0-to-100 kph in under three seconds!). But given your finances, you've settled for a used 2003 Saturn, which only has one door missing, but you'll duct-tape over that opening so it will barely even be noticeable. And it is priced to sell, baby: for you, just $8,000. As for the financing ... you've agreed to the dealer's generous arrangement, which is five years (annual payments) at 16%. So ... first tell me what your annual car payments will be, and then set up an amortization schedule with these six columns 1) Year 2) Principle Balance (at beginning of year) 3) Annual Mortgage Payment 4) Interest Paid 5) Amortization Payment (which is applied to the outstanding principle) 6) Principle Balance (at end of year)