Consider a student loan of

$12,500

at a fixed APR of

12%

for

30

years.

a. Calculate the monthly payment.

b. Determine the total amount paid over the term of the loan.

c. Of the total amountpaid, what percentage is paid toward the principal and what percentage is paid for interest.

a. The monthly payment is

$______.

(Do not round until the final answer. Then round to the nearest cent asneeded.)