Based on the information below, choose the correct answer. Note: The monthly loan payment was calculated at 119 payments of $367.96 plus a final payment of $367.57. Loan Balance: $30,000.00 Loan Interest Rate: 8.25% Number of Payments: 120 Monthly Loan Payment: $367.96 Cumulative Payments: $44,154.81 Total Interest Paid: $14,154.81 On average, what dollar amount of each monthly payment is interest? $ What percent of the total payments is total interest? %
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