ssume the following information for a car note:

Original loan amount = $36,000 Annual interest rate = 9.75% Term of loan = 48 months

How much principal and interest was paid in year three, and what is the principal balance on the loan after three years?

$9,468.63 of principal; $1,436.21 of interest; balance due $9,525.48

$9,316.58 of principal; $1,588.22 of interest; balance due $11,168.11

$9,205.89 of principal; $1,536.27 of interest; balance due $11,463.24

$9,392.35 of principal; $1,512.53 of interest; balance due $10,350.02

$9,316.58 of principal; $1,500.34 of interest; balance due $10,266.81