Carissa's parents were unable to pay for her last year of college, so she obtained a student loan of $$8,000.$ The conditions of the loan were: She would make no payments while in college, but the interest would accumulate at $3\mathrm{.}7\%$ compounded monthly. Upon graduation she would begin equal monthly payments that would repay the loan in $5$ years. $($Round your answers to the nearest cent.$)$

$($a$)$ What was the amount of the loan when she graduated $1$ year later?

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$($b$)$ What monthly payments will repay the loan in $5$ years?