You have just taken out a $23,000 cartoon with a 8% APR, compounded monthly. The foon is for five years. When you make your first payment in one month, how much of the payment wil toward the principal of the loan and how much will go toward interest? (Note: Be careful not to round any ratermediate steps less than sie decimal places) When you make your first payments will go toward the principal of the loan and $wil on toward the Interest. (Round to the nearest cont.)