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You make monthly payments on your car loan. It has a quoted APR of 6 . 5 % ( monthly compounding ) . What percentage

You make monthly payments on your car loan. It has a quoted APR of 6.5%(monthly compounding). What percentage of the outstanding principal do you pay in interest each month? (Note: Be careful not to round any intermediate steps less than six decimal places.)
The percentage of the outstanding principal you pay in interest each month is q,%.(Round to four decimal places.)
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