The Excel file does not need to be filled out. I included it just to make it easier.

Video 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 $37,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 8% compounded annually. Round all answers to the nearest cent. Beginning Repayment of Principal Ending Balance Year Balance Payment 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. % Interest % Principal Year 1: % % Year 2: % % Year 3: % % B C D E F G Amortization schedule 1 2 3 4 Loan amount to be repaid (PV) Interest rate (0) Length of loan in years) $37,000.00 8.00% 5 Formula 6 7 8 9 a. Setting up amortization table Calculation of loan payment #N/A Repayment of Principal Interest Remaining Balance 10 Year Beginning Balance Payment 11 1 12 2 13 3 14 15 b. Calculating % of Payment Representing Interest and Principal for Each Year Payment % Payment % Representing Representing 16 Year Interest Principal 17 1 18 2 19 3 20 21 Formulas Check: Total = 100% Interest #N/A #N/A #N/A Repayment Principal #N/A #N/A #N/A Remaining Balance #N/A #N/A #N/A #N/A 22 Year Beginning Balance Payment 23 1 #N/A #N/A 24 2 #N/A #N/A 25 3 #N/A 26 27 b. Calculating % of Payment Representing Interest and Principal for Each Year Payment % Payment % Representing Representing 28 Year Interest Principal 29 1 #N/A #N/A 30 2 #N/A #N/A 31 3 #N/A #N/A Check: Total = 100% #N/A #N/A #N/A