A student takes out a loan of $2300 at the beginning of each semester (semi-annually) for 7 semesters to pay for college. The loan charges 7.2% interest compounded semiannually. The student graduates after the 7 semesters and refinances the loan to a lower 6.5% rate compounded monthly with monthly payments (made at the end of each month) for 120 months. answer a and b

a.) The monthly payment is $?

b.) The total amount of interest paid is?