Excel Online Structured Activity: Amortization schedule The data on a loan has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Open spreadsheet a. Complete an amortization schedule for a $42,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 6% compounded annually. Round all answers to the nearest cent. Beginning Repayment of Principal Ending Balance Year Balance Payment Interest 42000 $ 0.00 b. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Round all answers to two decimal places. % Interest % Principal Year 1: Year 2: Year 3: 3 4 5 Loan amount to be repaid (PV) Interest rate Length of loan (in years) $42,000.00 6.00% a. Setting up amortization table Calculation of loan payment Formula UNA Beginning Balance Payment Repayment of Principal Remaining Balance 15 b. Calculating % of Payment Representing Interest and Principal for Each Year Payment % Representing Interest Payment % Representing Principal Check: Total 100% Formulas Year Beginning Balance Payment Repayment of Principal N/A Remaining Balance UNA Interest #NIA #NIA ANIA NA NA ANIA NA Sheet1