You have taken out a 60-month, $23 comma 000 car loan with an APR of 8%, compounded monthly. The monthly payment on the loan is $466.36. Assume that right after you make your 50th payment, the balance of the loan is $4 comma 497.06. How much of your next payment goes toward principal and how much goes toward interest

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

What's the rest of the problem? lol

That answer is true