Assume that you have a $18,500 debt with a 11.5% annual simple interest rate. In order to reduce this debt as quickly as possible, beginning next month you are going to pay $850 per month towards the loan. How much of the first $850 payment will go towards interest on the loan? How much of the first $850 payment will go towards the principal of the loan? After the first payment of $850 how much will you still owe in principal on the loan? NOTE: Enter your answers as whole numbers (rounded to the nearest dollar), without dollar signs. The fanount which gocs toward interest = The amount which goes toword the principal = The arivint you still one in principal = Assume that you have a $18,500 debt with a 11.5% annual simple interest rate. In order to reduce this debt as quickly as possible, beginning next month you are going to pay $850 per month towards the loan. How much of the first $850 payment will go towards interest on the loan? How much of the first $850 payment will go towards the principal of the loan? After the first payment of $850 how much will you still owe in principal on the loan? NOTE: Enter your answers as whole numbers (rounded to the nearest dollar), without dollar signs. The amount which goes toward interest = The amount which goes toward the principal = The amount you still owe in principal =