The monthly loan payment was calculated at 119 payments of $330.38 plus a final payment of $329.73

Loan balance: $25,000.00
Loan interest rate 10.0%
Monthly loan payment: $330.38
Number of payments: 120
Cumulative Payments: $39,644.05
Total Interest paid: $14,644.95

On average, what dollar amount of each monthly payment is interest? $122.04, $119.04, or $116.04 ?

What percent of the total payments is total interest? 36.9, 35.9, or 34.9 %

Please help me out!

On average, the dollar amount of each monthly payment that is interest is $122.04.

The percent of the total payments that is total interest is 36.9%.

To find the average dollar amount of each monthly payment that is interest, we need to divide the total interest paid by the number of payments.

Total Interest Paid: $14,644.95
Number of Payments: 120

Average Interest Payment = Total Interest Paid / Number of Payments
Average Interest Payment = $14,644.95 / 120
Average Interest Payment ≈ $122.04

Therefore, the average dollar amount of each monthly payment that is interest is approximately $122.04.

To find the percent of the total payments that is total interest, we need to divide the total interest paid by the cumulative payments, and then multiply by 100 to convert it to a percentage.

Total Interest Paid: $14,644.95
Cumulative Payments: $39,644.05

Percent of Total Payments = (Total Interest Paid / Cumulative Payments) x 100
Percent of Total Payments = ($14,644.95 / $39,644.05) x 100
Percent of Total Payments ≈ 36.9%

Therefore, the percent of the total payments that is total interest is approximately 36.9%.

To find the average dollar amount of each monthly payment that is interest, you can divide the total interest paid by the number of payments.

Total Interest Paid: $14,644.95
Number of Payments: 120

Average Interest per Payment = Total Interest Paid / Number of Payments
= $14,644.95 / 120
≈ $122.04

So, the correct answer is $122.04.

To find the percentage of total payments that is total interest, you can divide the total interest paid by the cumulative payments and then multiply by 100.

Total Interest Paid: $14,644.95
Cumulative Payments: $39,644.05

Percentage of Total Payments = (Total Interest Paid / Cumulative Payments) * 100
= ($14,644.95 / $39,644.05) * 100
≈ 36.9%

So, the correct answer is 36.9%.