Four years ago Cody and Mary purchased a home and got a $635,372 mortgage with a 30-year amortization at 5% interest compounded semi-annually and weekly payments. The term of the mortgage is now over, and they are renewing on the same amortization timeline for a three-year term at 3.50% interest compounded semi-annually and biweekly payments. For full marks your answer should be rounded to the nearest cent.

What is the balance remaining after the first term?

Balance =$0.00

How much are the new payments for the second term?

Payment = $0.00