The new Mitsubishi Lancer is being advertised in Al$-$Waseet for $$12,900$ with credit facilities up

to $7$ years and an interest rate of $3\mathrm{.}75\%.$ You are considering buying this car with the maximum

credit facility period of $7$ years from M Bank. Assume M Bank charges interest on the

outstanding balance of the car loan. That is$,$ the annual payment will be used to cover interest on

the outstanding balance and part of the car price.

a$)$ What would your annual payment be$?$

b$)$ Show the amortization table for the seven years. What is the total amount of interest paid?