FIN 341 Fall 2021 Principles of Finance Question 7, P 5-13 (simil... HW Score: 8.57%, 3 of 35 points O Points: 0 of 1 You make monthly payments on your car loan. It has a quoted APR of 5.6% (monthly compounding). What percentage of the outstanding principal do you pay in interest each month? (Note: Be careful not to round any intermediate steps less than six decimal places.) ***** The percentage of the outstanding principal you pay in interest each month is %. (Round to six decimal places.)