Penny attended a four year state college. She took out a student loan to pay for her tuition and room & board for the four years she was attending the college. Her tuition fees were $6,970 per year, and the cost of her room and board was $11,320 per year. Now that she has graduated, she will have to start paying back her loan. Fortunately, Penny has a grace period of one year before she has to start paying back the loan. Her loan details are as follows: there is a fixed-rate interest of 4.5% and the interest compounds each month. During her one year grace period, interest will accrue on the loan, so that when she has to start paying the loan back she will owe more than what she owes now. Her goal is to be able to payoff the loan in 10 years.

What is the new loan amount after the one-year grace period (remember that interest will accrue on the loan during this initial 12-month period that she is not paying anything back on the loan)? This is the amount that she will be responsible for paying back. (Round your answer to the nearest whole dollar)

Given that she can pay back the loan in full after 10 years of payments, what is the total amount she will end up paying back (both principal and interest that has accrued over the 10 years)? And how much will her monthly payments on the loan be for those 10 years? (Round your answers to the nearest whole dollar)