Close Date: Sun, Dec 3, 2023 11:59 PM Question 5 of 6 Blake received a 25 year loan of $275,000 to purchase a house. The interest rate on the loan was 3.80% compounded semi-annually. a. What is the size of the monthly loan payment? Round to the nearest cent b. What is the balance of the loan at the end of year 3 ? Round to the nearest cent Close Date: Sun, Dec 3, 2023 11:59 PM Question 5 of 6 $0.00 Round to the nearest cent b. What is the balance of the loan at the end of year 3 ? Round to the nearest cent c. By how much will the amortization period shorten if Blake makes an extra payment of $30,000 at the end of year 3 ? years months