Say that you (or your parents) are purchasing a used car for $19,850. the sales tax is 7.5%, the down payment is $1,000.00, and you have an average credit rating. if your first payment is $425.98, how much of the payment goes toward the principal?

secured unsecured
credit apr (%) apr (%)
excellent 4.75 5.50
good 5.00 5.90
average 5.85 6.75
fair 6.40 7.25
poor 7.50 8.40

$384.48

$361.09

$344.18

$326.83