III. John plans to borrow $400,000 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 2.5%, 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 and the last month. Rounding amounts to the nearest dollar (18 points) Month Beginning Balance 1 $ 400,000 Monthly Payment Dollar Interest Principal Payment Ending Balance 2 3 4 u 6 180