Robert and Rebecca Richardson have just signed a 30-year, 4% fixed-rate mortgage for $550,000 to buy their house. Find out this couple's monthly mortgage payment by preparing a loan amortization schedule for the Richardsons for the first 2 months; find out how much of their payments applied to interest; and after 2 payments, how much of their principal will be reduced.

(Construct a loan amortization schedule and show your calculations for two monthly payments).