Whitney purchased a house for $400,000. He made a down payment of 15.00% 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 7 year period. Calculate the monthly payment amount. Calculate the principal balance at the end of the 7 year term. Calculate the monthly payment amount if the mortgage was renewed for another 7 years at 4.52% compounded semi-annually?