When you purchased your$$ car, you took out a $5-$year $$annual$-$payment loan with an interest rate of $8\%$ per year. The annual payment on the car is $$$$5400.$ You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following$$ scenari

a$.$ You have owned the car for $1$ year$($so there are $4$ years left on the$$ loan$)?$

b$.$ You have owned the car for $4$ years$($so there is $1$ year left on the$$ loan$)?$

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Part $1$

a$.$ You have owned the car for $1$ year$($so there are $4$ years left on the$$ loan$)?$

The payoff if there are $4$ years left on the loan is $$$

$$

enter your response here. $($Round to the nearest$$ cent$)$