The Boyles are nearing the end of the first five-year term of a $600,000 mortgage loan with a 20-year amortization. The interest rate has been 2% compounded semiannually for the initial torm. a) How much will their monthly payment be for the first five-year term? 1/8 P/Y CAY N PV PMT FV The monthly payment for the first term is $ b) What is the balance of the mortgage at the end of the first five-year term? 1/Y P/Y c/y N PV PMT FV The balance of the mortgage at the end of the first five year term is $