The payments described below are compounded monthly.

Suppose you borrow $$25,000$ on Sept $1,2006,$ and another $$25,000$ on Sept $1,2007$ to finace the portion of tuition and living expenses for graduate school for which your savings are insufficient. Repayment on each of these loans ids deferred until graduation. However, interest of $6\mathrm{.}5\%($quoted APR$)$ begins accuring immediately $($compounded monthly$).$ The fist payment is due Spet $1,2008.$ The loan agreement specifies that they loan be repaid in $120$ equal monthly installments.

A$.$ What will be the total value of your indebtedness on August $31,2008($Assume interest for the last month has accrued but no payments have yet been made$)$ will be $[$number$1]$

B$.$ The monthly payment will be $[$number$2]$

Write your answers in numerals without a $ sign. Use $2$ decimal points $($cents$)$ if appropriate