Sherry and Sam want to purchase a condo at the coast. They will spend $662,000 on the condo and are taking out a loan for 20 years at 6.7% interest. The annual mortgage payment will be $...

Sherry and Sam want to purchase a condo at the coast. They will spend $662,000 on the condo and are taking out a loan for 20 years at 6.7% interest. The annual mortgage payment will be $61038.62. Construct the amortization of the loan for the 20 years in a speadsheet to show the annual interest costs, the principle reduction, and the ending balance each year. Then change the amortization to reflect that after 10 years, the will increase their annual payment to $84,000 per year. When will they fully repay the mortgage with this increase payment if they apply the extra dollars above the original payment to the principle? Complete the amortization schedule of the loan for year 15.