A couple takes out a mortgage for $135,000 on a home they are purchasing. The mortgage has an amortization period of 20 years and a term of five years. The interest rate is 8% compounded semi-annually.

A) What will be the size of the monthly mortgage payments in the first five years of the mortgage?

B) At the end of the first five years, the mortgage is renewed at 12% compounded semi-annually. What will be the size of the new mortgage payment?