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We answer the following questions: how much is your payment every period? How much is paid toward interest? How much is paid towards the principal?

We answer the following questions: how much is your payment every period? How much is paid toward interest? How much is paid towards the principal?
1 You purchase a car that costs $35,000. You put up $25,000 of your personal wealth and borrow the remaining $10,000 from a mortgage lender. You repay the loan of $10,000 in five yearly installments. What is the value of each installment if the interest rate per year is 10%? How much is the interest? How much is the principal repayment per period?

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