Question: COMPLETE EXCEL SHEET AND ANSWER QUESTION Your company is planning to borrow $3 million on a 5-year, 14%, annual payment, fully amortized term loan. The

COMPLETE EXCEL SHEET AND ANSWER QUESTION

Your company is planning to borrow $3 million on a 5-year, 14%, annual payment, fully amortized term loan.

The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.

QUESTION :What fraction of the payment made at the end of the second year will represent repayment of principal? Do not round intermediate calculations. Round your answer to two decimal places.

COMPLETE EXCEL SHEET AND ANSWER QUESTION Your company is planning to borrow

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