A $45000 mortgage is amortized by monthly payments over twenty years and is renewable after five years. a) If the interest rate is 7.7% compounded semi-annually, calculate the outstanding balance at the end of the five-year term.(Points=5) b) If the mortgage is renewed for a further three-year term at 6% compounded semi-annually, calculate the size of the new monthly payment.(Points-5) A debt of $82500 is repaid by payments of $5850 made at the end of each year. Interest is 5.75% compounded semi-annually. a) How many payments are needed to repay the debt?(Points=2) b) What is the cost of the debt for the first three years?(Points=2) c) What is the principal repaid in the 3rd year?(Points=2) d) Construct an amortization schedule showing details of the first three payments, the last three payments, and totals.(Points-4)