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Keith purchased a house for $375,000. She made a down payment of 20.00% of the value of the house and received a mortgage for the

Keith purchased a house for $375,000. She made a down payment of 20.00% of the value of the house and received a mortgage for the rest of the amount at 4.22% compounded semi-annually amortized over 20 years. The interest rate was fixed for a 6 year period.

a. Calculate the monthly payment amount.

b. Calculate the principal balance at the end of the 6 year term.

c. Calculate the monthly payment amount if the mortgage was renewed for another 6 years at 6.62% compounded semi-annually?

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