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6) A $248 000.00 mortgage amortized by monthly payments over 35 years is renewable after five years. Interest is 8.12% compounded semi-annually. a) What is

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6) A $248 000.00 mortgage amortized by monthly payments over 35 years is renewable after five years. Interest is 8.12% compounded semi-annually. a) What is the size of the monthly payments? b) How much interest is paid during the first year? c) How much of the principal is repaid during the first five-year term? d) If the mortgage is renewed for a further five-year term at 7.16% compounded semi-annually, what will be the size of the monthly payments

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