Part 1 (Already Answered): The McDonald Group purchased a piece of property for $1.5 million. It paid a down payment of 20% in cash and financed the balance. The loan terms require monthly payments for 15 years at an annual percentage rat of 5% compounded monthly. What is the amount of each mortgage payment? Please answer:

Part 2: What is the loan balance at the end of year 5? What is the amount of principle that needs to be repaid during year 5? What is the amount of interest that needs to be repaid during year 5? (Please show your calculation).