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Problem 6-4 Calculating Instalment Loan Payments, Interest, and Principal [LO2] a. If Dave had borrowed $480 for one year at an APR of 9 percent, compounded monthly, what would have been his monthly loan payment? Use Exhibit 1B-4. (Do not round your intermediate calculations. Round your final answer to 2 decimal places. Omit the "\$" sign in your response.) PMT $ b. What would have been the breakdown between interest and principal of the fifth payment? Use Exhibit 1B-4. (Do not round your intermediate calculations. Round your final answers to 2 decimal places. Omit the " \( \$ " \)quot; sign in your response.)