You are developing a property and need to take out a construction loan. Loan terms are as follows:$/$ Construction Cost $($excluding loan interest$)$: $$1,950,000$ Loan$-$to$-$Cost $($LTC$)$: $70\%$ Construction Period: $12$ months Average Outstanding Loan Balance: $50\%$ Annual Interest Rate: $5\%$ Answer the following $($Round your answer to the nearest whole dollar$)$: What is the amount of equity you need? What is the sum of all your interest payments