The interest rate for the first five years of a $187,000 mortgage loan was 7.25% compounded semiannually. The monthly payments computed for a 15-year amortization were rounded to the next-higher $10.

a. Calculate the principal balance at the end of the first term.

b. Upon renewal at 6.5% compounded semiannually, monthly payments were calculated for a five-year amortization and again rounded up to the next $10. What will be the amount of the monthly payments?