James is looking at attending SMU for a degree in Legal Studies. The tuition and room and board charges (plus books and other expenses) for one year will be $64,397.James does not have this money. He needs a student loan. A Federal Direct Standard Loan has a repayment period of 10 years with an interest rate of 5%.What will James’ monthly payment be?Over the life of the loan, how much more than the tuition and room and board charges will James have paid his lender?