Meg received a 15 year loan of $310,000 to purchase a house. The interest rate on the loan was 2.50% compounded monthly.

a. What is the size of the monthly loan payment?

Round to the nearest cent

b. What is the principal balance of the loan at the end of 4 years?$

Round to the nearest cent

c. By how much will the amortization period shorten if Megan made an extra payment of $52,000 at the end of the year 4?

Express the answer in years and months, rounded to the next month