You want to buy a car and over the last $3$ years, you have deposited

$$200$ per month into an account which equates to $36$ payments that earns $3\mathrm{.}25\%$per year compounded quarterly. The car costs

$$26,500$ and you withdraw your savings as a downpayment and the car loan terms are $4\mathrm{.}5\%$ per year compounded

monthly over four years.

i$)$ Calculate the monthly payments. A should equal around $$432\mathrm{.}1$

ii$)$ Calculate the sum of your interest payments over the life of the loan. Which should be around $$1792.$