USING EXCEL Question points in total$)$

Van Nuys Health System $($VNHS$)$ plans to construct a new building. The total cost of this capital project is $$6,000,000.$ VNHS will finance the project with $$3,000,000$ from its equity and a $10$ year term loan with the annual interest rate of $5\%.$ VNHS will make monthly payments.

$7\mathrm{.}1$ Compute the loan amortization schedule. $(10$ points$)$

$7\mathrm{.}2$ After looking back at its cash flow, VNHS wants to increase the payment by $10\%$ each month. Provide the new loan amortization schedule. How much is the total amount of loan now? How much is the total interest payment now? $(5$ points$)$

$7\mathrm{.}3$ Compared to the original payment plan in question $7\mathrm{.}1,$ how many months are cut off by the new monthly payment $($in question $7\mathrm{.}2)$ for VNHS to pay off this loan? How much is interest payment reduced over the entire loan term? $(5$ points$)$