A $200,000 mortgage at 4.9% compounded semiannually with a 25-year amortization requires monthly payments. The mortgage entitles

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A $200,000 mortgage at 4.9% compounded semiannually with a 25-year amortization requires monthly payments. The mortgage entitles the borrower to increase the amount of the regular payment by up to 15% once each year. How much will the amortization period be shortened if, after the 12th payment, the payments are increased by

a. 7.5%?

b. 15%?

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