Sophie purchased a house for $375,000. She made a down payment of 25.00% of the value of the house and received a mortgage for the rest of the amount at 6.62% compounded semi-annually amortized over 20 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 4.82% compounded semi-annually?

Round to the nearest cent