You are told that a note has repayment terms of $1,150 per quarter for 4 years, with a stated interest rate of 4%. How much of the total payment is for principal, and how much is for interest? Calculate using (a) financial calculator or (b) Excel function PV. (Round answers to 2 decimal places, e.g. 5,275.25) Total payment for principal Total interest $ The total interest will be $ Determine if the total interest will be higher or lower than with an annual payment. than with an annual payment.