Excel Online Structured Activity: Loan Amortization Your company is planning to borrow $2 million on a 5-year, 12%, 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 Check My Work Reset Problem 1 Loan Amortization 3 Loan amount $2,000,000 4 Term in years 5 Annual coupon rate 12.00% Formula 7 8 Calculation of Loan Payment Loan payment 10 Loan Amortization Schedule Beginning Balance Payment Interest Principal Ending Balance ear 12 13 14 15 16 17 18 19 Loan Amortization Schedule 4 Formulas Year Beginning Balance #N/A #N/A #N/A #N/A Pavment #N/A -N/A Interest #N/A #N/A /A #N/A Principal #N/A #N/A #N/A Ending Balance VA HN/A #N/A #N/A 21 23 24 25 26 4 #N/A /A Percentage of 2nd Year Payment Representing 7Repayment of Principal 28 2 #DIV/0