Based on the information below, choose the correct answers. note: the monthly loan payment was calculated at 119 payments of $242.66 plus a final payment of $241.78. loan balance: $20,000.00 loan interest rate: 8.00% monthly loan payment: $242.66 number of payments: 120 cumulative payments: $29,118.32 total interest paid: $9,118.32 1. on average, what dollar amount of each monthly payment is interest? $ 76.99 77.99 75.99 2. what percent of the total payments is total interest? % 31.3 32.4 31.9