You have just purchased a car and taken out a $ 50000 loan. The loan has...

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You have just purchased a car and taken out a $ 50000 loan. Theloan has a? five-year term with monthly payments and an APR of6.3%. a. How much will you pay in? interest, and how much will youpay in? principal, during the first? month, second? month, andfirst? year? (Hint: Compute the loan balance after one? month, two?months, and one? year.) b. How much will you pay in? interest, andhow much will you pay in? principal, during the fourth year? (i.e.,between three and four years from? now)? ?(Note: Be careful not toround any intermediate steps less than six decimal? places.)

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You have just purchased a car and taken out a $ 50000 loan. Theloan has a? five-year term with monthly payments and an APR of6.3%. a. How much will you pay in? interest, and how much will youpay in? principal, during the first? month, second? month, andfirst? year? (Hint: Compute the loan balance after one? month, two?months, and one? year.) b. How much will you pay in? interest, andhow much will you pay in? principal, during the fourth year? (i.e.,between three and four years from? now)? ?(Note: Be careful not toround any intermediate steps less than six decimal? places.)