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You need $ 1 7 , 0 0 0 to purchase a used car. Your wealthy uncle is willing to lend you the money as

You need $17,000 to purchase a used car. Your wealthy uncle is willing to lend you the money as an amortized loan. He would like you to make annual payments for 4 years, with the first payment to be made one year from today. He requires a 9% annual return.
What will be your annual loan payments? Do not round intermediate calculations. Round your answer to the nearest cent.
$
4,375.69
How much of your first payment will be applied to interest and to principal repayment? Do not round intermediate calculations. Round your answers to the nearest cent.
Interest: $
1530
Principal repayment: $
2826.69

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