Question: 3 a. If Dave had borrowed $440 for one year at an APR of 7 percent, compounded monthly, what would have been his monthly loan

3 a. If Dave had borrowed $440 for one year at

3 a. If Dave had borrowed $440 for one year at an APR of 7 percent, compounded monthly, what would have been his monthly loan payment? Use Exhibit 18-4. (Do not round your intermediate calculations. Round your final answer to 2 decimal places. Omit the "$" sign in your response.) PMT $ 00:49:50 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 "$" sign in your response.) $ Interest Principal $

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