Travis purchased a house for $325,000. He made a down payment of 20.00% of the value of the house and received a mortgage for the rest of the amount at 3.42% compounded semi-annually amortized over 15 years. The interest rate was fixed for a 6 year period.

Calculate the monthly payment amount.

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

Calculate the monthly payment amount if the mortgage was renewed for another 6 years at 4.02% compounded semi-annually?