You have just taken out a $27,000 car loan with a 5% 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? (Be careful not to round any intermediate steps less than six decimal places)

When you make the first payment, $___ will go towards the principal of the loan and $___ will go toward the interest. (Round to the nearest cent)

You have just taken out a $27,000 car loan with a 5% 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? six decimal places.) When you make your first payment, vwill go toward the principal of the loa d Sill go toward the interest. (Round to the nearest cent)