When you purchased your car, you took out a five-year, annual-payment loan with an interest rate…

When you purchased your car, you took out a five-year, annual-payment
loan with an interest rate of 5.6% per year. The annual payment on the
car is $4,600. 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 scenarios?

a. You have owned the car for one
year (so there are four years left on the loan)?

b. You have owned the
car for four years (so there is one year left on the loan)?

a. You have
owned the car for one year (so there are four years left on the loan)?

The payoff if you have owned the car for one year (so there are four
years left on the loan) is $ to the nearest cent.)

b. You have
owned the car for four years (so there is one year left on the loan)?

The payoff if you have owned the car for four years (so there is one
year left on the loan)