Sharon Fox decided to buy a home in Marblehead, Massachusetts, for $275,000. Her bank requires a 30% down payment. Sue Willis, an attorney, has notified Sharon that besides the 30% down payment there will be the following additional costs:

Recording of the deed	$	30.00
A credit and appraisal report		155.00
Preparation of appropriate documents		48.00

In addition, there will be a transfer tax of 1.8% of the purchase price and a loan origination fee of 2.5% of the mortgage amount. Assume a 30-year mortgage at a rate of 10%.

b. What is her monthly payment? (Do not round intermediate calculations. Round your answer to the nearest cent.)

c. What is the total cost of interest over the life of the mortgage? (Do not round intermediate calculations. Round your answer to the nearest cent.)

FYI Initial amount is 92,495.50