Suppose you take out a car loan of $12,000 with an interest rate of 9% compounded monthly. You will pay off the loan over 48 months with equal monthly payments. (a) What is the monthly interest rate? The monthly interest rate is 0.75%. (Round to three decimal places.) (b) What is the amount of the equal monthly payment? The amount of the equal monthly payment is $298.62. (Round to the nearest cent.) (c) What is the interest payment for the 20th payment? The interest payment for the 20th payment is $. (Round to the nearest cent.)