A $100,000 mortgage at 6.9% 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 12 th payment, the payments are increased by 7.5% ? Multiple Choice 2 years 2 years, 5 months 3 years 3 years, 8 months 3 years, 7 months