Molly purchased a house for $325,000. 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 3.62% compounded semi-annually amortized over 25 years. The interest rate was fixed for a 6 year period.

a. Calculate the monthly payment amount.

Round to the nearest cent

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

Round to the nearest cent

c. Calculate the monthly payment amount if the mortgage was renewed for another 6 years at 5.62% compounded semi-annually?

Round to the nearest cent