Excel Online Structured Activity: Amortization schedule The data on a loan has been collected in the Microseft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions befow. Onen spresisheet a. Complete an amortization schedule for a 343,000 loan to be repaid in equal instalinents at the end of each of the next thee voars. The interest rate is 11 . compounded annually. Round all answers to the nearest cent. b. What sercentage of the pavment represents interest and what percentage represents principal for each of the thee years? Poond all anseris to two decimal alacei. c. Why do these percentages change over time? 1. These percentages change over time because even though the total payment is constant the amount of interevt paid each vear is declining as the remaining of outstanding balance decines. II. These percentages change over time because even though the total payment is constant the amount of interest paid each year is increasing as the remaining of outstanding balance declines. IH. These bercentages change over time because even though the total payment is constant the amount of interest pedd each year is declining as the remairing or outstanding balance increases. W. These percentages change over time because eyen though the total payment is constant the amount of interest paid each vear is increasing as the remaining of outstandino balance increases. V. These percentages do not change over time; interest and principal are each a constant percentage of the total payment. Online Activity-Amortization schedule 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 f c. Why do these percentages change over time? These nercentages change over time because even though the total payment is constant the amount of interest paid each vear is declining as the rectaining o outstanding balance declines. These percentages change over time because even though the total pwement is constant the amount of interest paid each year is increasing as the remaining C outstanding balance declines. II These percentages clange over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining of Iii) outstanding balance increases. These peccentages change over time because even though the total bayment is constant the amount of linterest pald each year is increasing as the remaining of N outstanding balance increases. V These persentages do not thange over time; interest and principal are each a constant peccentage of the total paymeot. b. Caloulating \% of Payment Representing Interest and Principal for Each Year 15 b. Calculating % of Payment Representing Interest and Principal for Each Yoar 27 b. Calculating \% of Payment Representing interest and Principai for Each Yoar