You have just taken out a $20,000 car loan with a 6% APR,compounded monthly.The loan is for

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You have just taken out a $20,000 car loan with a 6% APR,compounded monthly.The loan is for five years.When you make your first payment in one month,how much of the payment will go towards the principle of the loan and how much will go towards interest?

Posted Date: May 19, 2024 08:08 PM

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You have just taken out a $20,000 car loan with a 6% APR,compounded monthly.The loan is for

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