Hanna has a mortgage of $250,000 through the TD Canada Trust for a vacation property. The mortgage is repaid by end of month payments with an interest rate of 5.6% compounded monthly for a term of 2 years, amortized over 16 years. At the end of the 2-year term, Hanna will renew the mortgage for another 2-year term at a new, lower interest rate of 4.3% compounded monthly. 1) What are the end of month payments before the renewal of the mortgage? 2) What is the balance when the mortgage is renewed? 3) What will be the new end of month payments after the mortgage is renewed?