A

$$100,000$

mortgage is to be amortized by making

monthly

payments for

$25$

years. Interest is

$6\mathrm{.}6\%$

compounded

semi$-$annually

for a

five$-$year

term.

$($a$)$

Compute the size of the monthly payment.

$($b$)$

Determine the balance at the end of the

five$-$year

term.

$($c$)$

If the mortgage is renewed for a

five$-$year

term at

$6\%$

compounded

semi$-$annually,

what is the size of the

monthly

payment for the renewal term?