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.

Amortization schedule
Loan amount to be repaid (PV)	$39,000.00
Interest rate (r)	11.00%
Length of loan (in years)	3
a. Setting up amortization table		Formula
Calculation of loan payment		#N/A

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 11% compounded annually. Round all answers to the nearest cent.

Beginning Repayment Ending YearBalance PaymentInterestof PrincipalBalance

1 $ $ $ $ $ $

2 $ $ $ $ $ $

3 $ $ $ $ $ $

% Interest % Principal

year 1 % %

Year2 % %

Year 3:% %