Bob and Angelique Mackenzie bought a property valued at $$84,000$ for $$15,000$ down with the balance amortized over

$20$ years. The terms of the mortgage require equal payments at the end of each month. Interest on the mortgage is $3\mathrm{.}4\%$

compounded semi$-$annually and the mortgage is renewable after five years.

a$.$ What is the size of the monthly payment?

b$.$ Prepare an amortization schedule for the first five$-$year term. Make sure your payments are rounded to the nearest

cent.

c$.$ What is the cost of financing the debt during the first five$-$year term?

d$.$ If the mortgage is renewed for a further five years at $4\mathrm{.}2\%$ compounded semi$-$annually, what will be the size of each

monthly payment?