Ruxandra’s Canada Student Loans totalled $7200 by the time she finished Conestoga College in April. The accrued interest at prime plus 2.5% for the grace period was converted to principal on October 31. She chose the floating interest rate option and began monthly payments of $120 on November 30. The prime rate of interest was 5.5% on May 1, 5.25% effective July 9, and 5% effective December13. Prepare a repayment schedule presenting details of the first three payments.