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

on average, what dollar amount of each monthly payment is interest? $

what percent of the total payments is total interest?

%