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 $39,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 10% compounded annually. Round all answers to the nearest cont Beginning Balance Year Payment Repayment of Principal Ending Balance Interest $ 1 2 $ $ $ $ 3 $ $ 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 96 Interest 5 Principal Year 1: % 96 Year 2: % Year 3: 96 9 Amortization schedule c D Loan amount to be repaid (PV) Interest rate (0) Length of loan (in years) 2. Setting up amortization table Calculation of loan payment $39,000.00 10.00% 3 Formula WNIA 1 Beginning Balance Payment Year 1 2 3 Interest Repayment of Principal Remaining Balance 3 4 5 b. Calculating % of Payment Representing Interest and Principal for Each Year Payment % Representing Interest Year Payment % Representing Principal 16 17 18 19 20 1 Check: Total 100% 2 3 21 Formulas Year 1 22 23 24 25 26 2 3 Beginning Balance #NA NA #NA Payment N/A #N/A NA Interest #N/A #N/A #N/A Repayment of Principal WNA NA HINA Remaining Balance UNA NA #N/A