Question: I need help with these questions. Please indicate your full solution via by hand or Excel. Thank you. Angela received a 25 year loan of

by hand or Excel. Thank you. Angela received a 25 year loan I need help with these questions. Please indicate your full solution via by hand or Excel. Thank you.

Angela received a 25 year loan of $230,000 to purchase a house. The interest rate on the loan was 2.90% 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 ? c. By how much will the amortization period shorten if Angela makes an extra payment of $30,000 at the end of year 3 ? years months

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