A student takes out a loan of $2,600 at the beginning of each semester (semi-annually) for 7 semesters to pay for college. The loan charges 6.2% interest compounded semiannually. The stude graduates after the 7 semesters and refinances the loan to a lower 5.5% 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. The monthly payment is $ (Round to the nearest cent as needed.)