Question: You make monthly payments on your car loan. It has a quoted APR of 5.0% (monthly compounding). What percentage of the outstanding principal do you

You make monthly payments on your car loan. It has a quoted APR of 5.0% (monthly compounding). What percentage of the outstanding principal do you pay in interest eachmonth? (Note: Be careful not to round any intermediate steps less than six decimalplaces.)

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