You purchased a car for $10,000 with a 6-month loan and monthly payments at an APR of 5% with quarterly interest compounding. What is your principal payment for month 3? What is your interest payment for month 4? What is your principal remaining at the end of month 3? Suppose you sell the car for $7000 at the end of month 3. Would you make any cash?

Please show formulas step by step to get each answer.