An amount of `$130\ 000` is borrowed at an interest rate of `text(7.5%)` per annum, compounding monthly. The loan is fully repaid over ten years with equal monthly repayments.

Which of the following statements is not true?

**A. ** The monthly interest rate is 0.625%.

**B.** No money will be owed after 10 years.

**C. **The total number of repayments is 120.

**D. ** A monthly repayment of $1500 will reduce the length of the loan.

**E. ** At the end of five years, the amount of the principal still owing will exceed $65 000.