Monique has a mortgage of $470,000 through Scotiabank for a vacation property. The loan is repaid by end of month payments with an interest rate of 5.8% compounded monthly for a term of 4 years, amortized over 15 years. At the end of the 4-year term, she will renew her mortgage for another 4-year term at a new, lower interest rate of 3.3% compounded monthly. 1) What are the monthly payments before the renewal of the mortgage? 2) What is the loan balance when the mortgage is renewed? 3) What will be the new monthly payments after the loan is renewed