Question: The last answer I got was .683 or 68% and it was incorrect. Please help! Your company is planning to borrow $1.75 million on a

The last answer I got was .683 or 68% and it was incorrect. Please help! Your company is planning to borrow $1.75 million

The last answer I got was .683 or 68% and it was incorrect. Please help!

Your company is planning to borrow $1.75 million on a 5-year, 10%, annual payment, fully amortized term loan. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. Open spreadsheet What fraction of the payment made at the end of the second year will represent repayment of principal? Do not round intermediate calculations. Round your answer to two decimal places. % D E F G H B 1 Loan Amortization 2 3 Loan amount $1,750,000 4 Term in years 5 5 Annual coupon rate 10.00% 6 7 Calculation of Loan Payment 8 Loan payment = 9 10 Loan Amortization Schedule 11 Year Beginning Balance 12 1 13 Formula #N/A Payment Interest Principal Ending Balance -NM 15 4 16 5 17 18 Formulas 19 Loan Amortization Schedule 20 Year Beginning Balance Payment 21 1 #N/A #N/A 22 2 #N/A #N/A 23 3 #N/A #N/A 24 4 #N/A #N/A 25 5 #N/A #N/A 26 Percentage of 2nd Year Payment Representing Repayment e7 of Principal 28 - NMTL Interest #N/A #N/A #N/A #N/A #N/A Principal #N/A #N/A #N/A #N/A #N/A Ending Balance #N/A #N/A #N/A #N/A #N/A #DIV/0! =E13/C13

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