Use the following to answer questions 20 - 24 On January 1, year 1, JT borrows $41,000 to purchase a new vehicle by agreeing to a 3.0%, 6-year loan with the bank. Payments are due at the end of each month with the first installment (vehicle payment) due on January 31, year 1. ROUND YOUR ANSWERS TO THE NEAREST CENT. 20. Determine the monthly vehicle payment (installment) $_ 21. Determine the interest expense for the first car payments 22. How much of the payment will decrease the amount owed (principal? 23. After the first vehicle payment is made the amount owed on the vehicle would be: $ 24. Determine interest expense for the second car payment $