Paul wants to purchase a car that costs $28,795. He has decided to make a 30% down payment. He has decided to take a 60-month loan at a 4.35% interest rate for the remaining balance of the car price. Build a loan amortization schedule. What is the amount of interest paid on the car loan for the first 12 months?
O approximately $8030
O approximately $736
O approximately $7360
O approximately $803