Question 29 『 3 pts 5 Details "Work is required for this problem. Clearly show the set up for your calculations on your paper. Calculate the interest due for the monthly installment payment on a loan given the remaining principal and interest rate. Remaining principal $=\$ 21,367.59$, interest rate $=13.7 \%$ Interest due $=\$$ (Give your answer rounded to the nearest hundredth) Submit Question

Step 1 ：Given the remaining principal of the loan is $21367.59 and the interest rate is 13.7%.

Step 2 ：First, convert the interest rate from percentage to decimal by dividing it by 100. So, \(13.7 \% = \frac{13.7}{100} = 0.137\).

Step 3 ：Next, calculate the interest due for the monthly installment payment on the loan by multiplying the remaining principal by the interest rate divided by 12. So, the interest due is \(21367.59 \times \frac{0.137}{12} = 243.94665249999997\).

Step 4 ：Finally, round the result to the nearest hundredth to get the final answer. So, the interest due is approximately \$243.95.

Step 5 ：Final Answer: \(\boxed{243.95}\)