You have just taken out a $28,000 car loan with a 6% APR, compounded monthly. The loan is for 5 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.)

You have just taken out a $28,000 car loan with a 6% APR, compounded monthly. The loan is for 5 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.)