Jalen has a mortgage of $$380,000$ through the Meridian Bank for a vacation

property. The mortgage is repaid by end of month payments with an interest rate

of $4\mathrm{.}9\%$ compounded monthly for a term of $4$ years, amortized over $23$ years. At

the end of the $4-$year term, Jalen will renew the mortgage for another $4-$year term

at a new, lower interest rate of $4\mathrm{.}6\%$ compounded monthly.

Round ALL answers to two decimal places if necessary.

What are the end of month payments before the renewal of the mortgage?

What is the balance when the mortgage is renewed?

What will be the new end of month payments after the mortgage is renewed?