Two payments per month of 743.75 = $1,487.50 per month * 12 months = $17,850 annually.
Were semimonthly mistaken for "every two weeks", you get the wrong answer 743.75 *26 = $19,337.50 annually.
74.375 is a fraction. It is a fraction in decimal form rather than in the form of a ratio. However, that does not stop it being a fraction. Its rational equivalent is 74375/1000 which can be simplified.
You don't need a new title. You just need a Lien Release. Contact the lender and ask for a lien release, and keep it with the title.