You have just taken out a $23,000 car loan with a 8% APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? (Note: Be careful not to round any intermediate steps less than six decimal places.) When you make your first payment, $(will go toward the principal of the loan and $will go toward the interest. (Round to the nearest cent.) If the rate of inflation is 5.5%, what nominal interest rate is necessary for you to earn a 3.9% real interest rate on your investment? (Note: Be careful not to round any intermediate steps less than six decimal places.) The nominal interest rate is %. (Round to two decimal places.)