A property was purchased with no down payment and loan payments of $1440 at the end of each month for twenty-five years. The interest charged on the balance owed was 4% compounded semi-annually. (a) What was the purchase price of the property? Enter your answer to 2 decimal places, do not include commas. (b) Assume the buyer decides to pay $1550 each month instead of the amount stated earlier in the question. By how many months will the term of the loan be reduced. Round your answer to the nearest whole number of months