A $98,000 mortgage is to be amortized by making monthly payments for 25 years. Interest is 6.2 % compounded semi-annually for a seven -year term.

(a)	Compute the size of the monthly payment.
(b)	Determine the balance at the end of the seven -year term.
(c)	If the mortgage is renewed for a seven -year term at 9 % compounded semi-annually, what is the size of the monthly payment for the renewal term?