In most cases, payments on student loans are deferred until the borrower graduates, although interest does get added to the principal while the student is in school. If Jaime takes out a student loan for $46,000 in 2012 at 5.2% simple interest and graduates in 4 years, find the monthly payment that would be required when he graduates if he plans to pay off the loan in 9 years after graduation. Round the answer to the nearest cent. The monthly payment for Jaime's student loan after he graduates is $