II. John plans to borrow $500,000 15-years mortgage loan from his bank, which agrees that John should repay the loan in 180 equal end-of-month payments. The annual interest rate is 3 %, compounded monthly. (1) What is the amount of each monthly payment? Show your calculation. (2) How much total interest dollar amount will John pay over the 15-year life of the loan? Show your calculation (3) Complete the following loan amortization schedule for the first 6 months Rounding amounts to the nearest dollar (20 points) Month Ending Balance Dollar Interest Monthly Payment Principal Payment $ 500,000 0 1 2 3 5 6