You tave just taken out a $20,000 car loan with a 6% APR, compounded monthly The loan is for 5 years. When you make ycur fint payment in one month, how much of the payment wit go toward The amount of your finst payment that will go toward the interest of the loan is $ (Round to the noarest cent.) The amount of your fint peyment that wall po toward the prencipat of the ban is 1 (Round to the nearest cent) You have just taken out a $20,000 car loan whe a 6% APR, compounded morehly. The loan is for 5 yearn. When you make your fint payment in one month, how much of the payment will go toward The amount of your frut payment that wil go toward the intarest of the loan is 1 (Chound to the nearest cect.) The amount of your trat payment brat wat os foward the prinoipal of the losh is 1 (Round to the nesrest cent) You are looking to buy a car and you have been offered a loan with an APR of 6.3%, compounded monthly. a. What is the true monthly rate of interest? b. What is the EAR? (Note: Be careful not to round any intermediate steps less than six decimal places.) a. What is the true monthly rate of interest? The monthly rate of interest is \%. (Round to four decimal places.) b. What is the EAR? The EAR is \%. (Round to two decimal places.)