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- You buy a new car and finance the complete cost of $25,000 with a car loan from a local I dealership, without an institutional lender. The loan carries an annual interest rate of 5.0%, payable in weekly installments over a 3-year period. (5 pts) What is the weekly payment consisting of interest and principal? Assume the payments are made at the end of each week. (5 pts) What will be the balance of the loan after paying the weekly installments for 1.5 years