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You make monthly payments on your car loan. It has a quoted APR of 6.3% (monthly compounding). What percentage of the outstanding principal do you

You make monthly payments on your car loan. It has a quoted APR of 6.3% (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

(Round to six decimal places.)

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