You want to open up an art studio and you find some properties close to South Point for $665,000. You pay a down payment of $60,000 and finance the rest. Assume you can get an interest rate of 2.2%, compounded monthly, amortized over 25 years.

(a) What would the monthly payment be? Round your final answer to two decimal places.

(b) How much interest did you pay over the entire mortgage? Round your final answer to two decimal