When you make payments on a long-term loan with interest, a portion of each monthly payment goes to pay the current interest due on the loan, and the remaining amount of the monthly payment is used to pay down the amount still owed on the loan (i.e., the remaining principal). Ding-Huan is purchasing a car and is paying an Annual Percentage Rate (APR) of 7%. After making a down payment, the amount Ding-Huan financed was $19,000 and his monthly payment for the 5- year term (length) of the loan is $428.00. You can think of the calculations for the portion going to interest and principal each month as simple interest problems, calculated month by month. Recall that I = Prt for simple interest. Question 8 How much will Ding-Huan still owe on the principal after he makes the first payment (at the end of the first month of the loan)? I don't know 2 attempts