As you and your spouse are discussing your monthly budget at the dinner table one night, you are both curious as to how much of your $325 car payment is going to principal and how much to interest. Knowing that you are paying an APR of 3.75% to the bank and that you still owe approximately $9,000 on the balance of the loan, calculate both the interest and principal portions of the payment and show your work.
Principal = ______________
Interest = _______________
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