Question

Consider a student loan of $22 comma 500 at a fixed APR of 12% for 15 years.
a. Calculate the monthly payment.
b. Determine the total amount paid over the term of the loan.
c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.
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Part 1
a. The monthly payment is $
  
enter your response here.
(Do not round until the final answer. Then round to the nearest cent as needed.)