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You have just taken out a $ 30 comma 000$30,000 car loan with a 4 %4% APR, compounded monthly. The loan is for five years.

You have just taken out a

$ 30 comma 000$30,000

car loan with a

4 %4%

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.)

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