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 2. Complete an amortization schedule for a $16,000 loan to be repaid in equal Instaliments at the end of each of the next three years. The interest rate is 9% compounded annually. Round all answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance $ 1 $ 2 $ 5 $ $ $ $ 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. 9 Interest * Prindpal 96 Year 1: 96 Year 2: 96 Year 3: c. Why do these percentages change over time? nt the amount of interest paid each year is declining as the