You lock up an interest$-$only $($IO$)$ loan with JP Morgan to buy a fancy office space in Hoboken.

They offer you a loan of $$15,000,000$ over $10$ years and a rate of $6\mathrm{.}25\%.$

a$.$ What is your monthly payment? $$78,125$

b$.$ What is your monthly payment if the loan is amortized over $25$ years with a term of $15$

years $($same interest rate and loan amount$)?$ $$98,950\mathrm{.}41$