Huai takes out a

$2500

student loan at

6.9%

to help him with

2

years of community college. After finishing the

2

years, he transfers to a state university and borrows another

$12,300

to defray expenses for the

5

semesters he needs to graduate. He graduates

4

years and

4

months after acquiring the first loan and payments are deferred for

3

months after graduation. The second loan was acquired

2

years after the first and had an interest rate of

7.4%

. Find the total amount of interest that will accrue until payments begin.

2.Huai takes out a

$3500

student loan at

6.8%

to help him with

2

years of community college. After finishing the

2

years, he transfers to a state university and borrows another

$12,300

to defray expenses for the

5

semesters he needs to graduate. He graduates

4

years and

4

months after acquiring the first loan and payments are deferred for

3

months after graduation. The second loan was acquired

2

years after the first and has an interest rate of

7.3%

. Find Huai's monthly payment when regular payments begin.