After finishing college, Vladimir must repay his student loan of $11 500.00. Interest on the loan is charged at a rate of 6.25% /a, compounded monthly.

• • i) What monthly payments are required to pay off the loan in 4 years?
• • ii) Vladimirs friend Kosta also has a student loan. Kosta is charged the same interest rate as Vladimir. Kosta repays his loan with monthly payments of $377.60 for four years. Determine the amount of Kostas loan.