Question: A $ 3 0 , 0 0 0 loan at 6 . 7 % compounded annually requires monthly payments of $ 4 5 0 .

A $30,000 loan at 6.7% compounded annually requires monthly payments of $450.(Round your answers to 2 decimal places.)
a. Calculate the interest component of Payment 29.
Interest component
$
b. Calculate the principal component of Payment 65.
Principal component
$
c. Calculate the final payment.
Final payment
$
A $30,000 loan at 6.7% compounded annually requires monthly payments of

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