You finish your engineering degree with $17,350 in student loans.  The interest rate on your loans is 0.6% per month.  The loan repayment period is 10 years and your monthly payment is set to be $203.24 [= $17,350(A/P, 0.6%, 120)]. Question 1: You can reduce the interest rate to 0.5% per month if you agree to repay the loan over the next 5 years.  If you agree to this, how much is the monthly payment?  Round your answer to the nearest cent (e.g., 473.24).

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