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You have just taken out a $22,000 car loan with a 7% APR, compounded monthly. The loan is for five years. When you make your

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You have just taken out a $22,000 car loan with a 7% APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of t payment will go loward the principal of the loan and how much will go toward interest? (Note Be carefui not fo round any intermediafe steps fess than six decimal places) When you make your first payment, ; will go toward the principal of the loan and $ will go toward tho interest. (Round to the nearest cent)

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