A student takes out a loan of $1600 at the beginning of each semester (semi annually) for 11 semesters to pay for college. The lawn charge is 7.4% interest, compounded semi annually. The student graduates after the 11 semesters and refinance a loan to lower 6.7% 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.

payment and the lotal interest pold The monithy porment is 3 (Round to the rearest ceit as needed) The lotal mount of interest pald is (Round to the nesrest cent as needed)