A student takes out a loan of

$1,300

at the beginning of each semester (semi-annually) for

9

semesters to pay for college. The loan charges

7.8%

interest compounded semiannually. The student graduates after the

9

semesters and refinances the loan to a lower

7.1%

rate compounded monthly with monthly payments (made at the end of each month) for 120 months. Find the monthly payment and the total interest paid.