Hans takes out a loan for his college tuition from a bank that charges simple interest at an annual rate of $5\mathrm{.}35\%.$ His loan is for $$7700$ for $4$ months. Assume each month is $\frac{1}{12}$ of a year. Answer each part below. Do not round any intermediate computations, and round your final answers to the nearest cent.

Find the interest that will be owed after $4$ months.

Assuming Hans doesn't make any payments, find the amount owed after $4$ months.