You have just taken out a $15,000 car loan with a 6% APR,compounded monthly. The loan is for five years. When you make yourfirst payment in one? month, how much of the payment will go towardthe principal of the loan and how much will go toward?interest????(Note: Be careful not to round any intermediate stepsless than six decimal? places.)
When you make your first? payment,?$___will go toward theprincipal of the loan and ?$___ will go toward the interest. (Roundto the nearest? cent.)
