Question: just need the correct answers for B The data on a loan has been collected in the Microsoft Excel Online file below. Open the spreadsheet

just need the correct answers for B The data on a loanjust need the correct answers for B

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. X Open spreadsheet a. Complete an amortization schedule for a $48,000 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 Ending Year Balance Payment Interest of incipal Balance 1 $ 48000.00 17957.27 2880.00 15077.27 32922.73 2 N $ 32922.73 17957.27 $ 1975.36 15981.91 16940.82 JU 3 $ $ 16940.82 17957.27 1016.45 16940.82 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: 49.05 % 31.41 % Year 2: 33.64 % 33.30 % Year 3: 17.31 % 35.29 %

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