Consider a student loan of $22,500 at a fixed APR of 12% for 20 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 $

nothing

.

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