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You have just taken out a $19,000 cat loan with a 6%,APR, compounded moenthy. The loan is for five years. When you make your first

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You have just taken out a $19,000 cat loan with a 6%,APR, compounded moenthy. The loan is for five years. When you make your first payment in one month, how much of the payment will go loward the principal of the loan and how much wil oo toward interest? (Note: Be carefut not fo round any intermedate steps less than sir decimal places) When you make your fint payment, will go toward the principal of the loan and 1 wil go toward the interest. (Round to the nearest cent)

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