7. Lisa has decided to purchase a seaside villa in Tobago and is considering borrowing $800,000 from a local bank. The 15 year mortgage would have an interest rate of 6% per annum. Monthly payments...

7. Lisa has decided to purchase a seaside villa in Tobago and is considering borrowing $800,000 from a local bank. The 15 year mortgage would have an interest rate of 6% per annum.
Monthly payments
are expected to be made on the loan.

Required:

b) Prepare an Amortization Schedule in the form of a table showing monthly interest payment over the first 3 months of the loan.

Please answer this question showing all working.