Question: 2. Dave had borrowed $300 for one year at an APR of 7 percent, compounded monthly, what would have been his monthly loan payment? Use

2. Dave had borrowed $300 for one year at an APR of 7 percent, compounded monthly, what would have been his monthly loan payment? Use Exhibit 18 4 (Do not round your intermediate calculations, Round your final answer to 2 decimal places. Omit the "S" sign in your response.) PMT b. What would have been the breakdown between interest and principal of the fifth payment? Use Exhibit 18-4. (Do not round your Intermediate calculations. Round your final answers to 2 decimal placer. Omit the sign in your response.) Interest Principal

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