Your bank has also received an application from Alex Chan for 3 year home renovation loan. The interest rate chargeable on the home renovation loan is 4% p.a. on a flat rate basis. Alex earned an annual income of $60,000 and he does not have any other loan commitments.

The first 3 months of the amortised loan repayment schedule for the above home renovation loan. You are to use the following format for the amortised loan repayment schedule:

Month	Beginning balance	Total Payment Paid	Interest paid	Principal paid	Ending balance
1
2
3