When Ahmad had 5 years left in college, he took out a student loan for $18,547. The loan has an annual interest rate of 3.6% . Ahmad graduated 5 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Ahmad will make monthly payments for 5 years after graduation. During the 5 years he was in school and not making payments, the loan accrued simple interest.

If Ahmad's loan is subsidized, find his monthly payment:

If Ahmad's loan is unsubsidized, find his monthly payment: