Sophia is purchasing property worth $1,060,000 with a down payment of $360,400 and quarterly payments at the end of every three months for 20 years. If interest is 3.27% compounded monthly: (a) What is the amount of each payment? Round the answer to the nearest cent. P/Y = C/Y = N = I/Y = % PV = $ PMT = $ FV = $ (b) What is the cost of financing? Round the answer to the nearest cent. Cost of financing = $ (enter a positive value)