Peter borrows `$80\ 000` for `10` years at `text(5.6%)` per annum, compounding monthly, with monthly repayments of `$555`.

Which one of the following statements is true?

**A. ** The loan will be fully paid out in ten years.

**B. ** At the end of five years, the balance of the loan will be `$40\ 000`.

**C.** The amount of interest paid each month during the loan increases.

**D. ** Weekly repayments of `$132` compounding weekly would reduce the period of the loan.

**E. ** If one extra payment of `$2000` is to be made, it would be better to make it at the end of year eight than at the end of year two.