Excel Online Structured Activity: Amortization schedule The data on alan has been collected in the Microsoft Excel Online le below. Open the spreadsheet and perform the required analysis to answer the questions below . Complete an amortization schedule for a $27,000 loan to be read inequali m ents at the of the rest three years. The interest rate is 115 compounded annually. Round all answer Beginning Balance Repayment Pridol Year Payment interest Balance b. What percentage of the payment represents interest and what percentage represents ve years Round all answers to two decimal places Interest Principal Why do these centages change over time? 1. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining or standing balance decines IL These percentages change over time because even though the total payment is constant the amount of interest ad each year is increasing as the remaining or outstanding balance dedins HIL. These percentages change over time because even though the total payment is constant the amount of interest each year is declining as the remaining or outstanding balance increase IV. These percentages change over time because even though the payment is constant the amount over de versc h erm o r g ence V. These percentages de not change over w ers and p a recha con percentage of the top What You Want Wrap Currency S o Paste Copy More Center , 02 Conditional Forma Format Painter Clipboard Styles 1 Amortization schedule 3 4 5 Loan amount to be repaid (PV) Interest rate() Length of loan (in years) 28 7 a. Setting up amortization Calculation of loan payment 1 Repayment of Principal Year Remaining Balance $ Calculating % of Payment Representing Interest and Principal Payment Payment % Representing Interest Representing Principal EN NE Beginning Balance Repayment of Principal Remaining Balance NA NA ONA WNA Payment WNA MNA WNIA #N/A #N/A NA Representing Interest and Principal for Each Year Payment % Payment % Representing Representing interest Principal #NA UNA #NA NA . NA el