Excel Online Structured Activity: Loan Amortization Your company is planning to borrow $1.5 million on a 5-year, 14%, 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. X 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 B Arial x A B 1 Loan Amortization 2 3 Loan amount $1,500,000 4 Term in years 5 5 Annual coupon rate 14.00% 6 7 Calculation of Loan Payment 8 Loan payment = $436,925.32 9 10 Loan Amortization Schedule 11 Year Beginning Balance $1,500,000.00 12 1 13 2 0.00 14 3 15 4 16 5 17 18 Formulas 19 Loan Amortization Schedule 20 Year Beginning Balance 21 1 #N/A 22 2 =F8 23 3 #N/A 24 4 #N/A 25 5 #N/A 26 Percentage of 2nd Year Payment Representing 27 Repayment of Principal 28 29 30 31 fx B Formula =B3*B5/(1-(1+B5)^(-B4)) Payment $436,925.32 436,925.32 436,925.32 436,925.32 436,925.32 Payment =B3*B5/(1-(1+B5)^(- =B3*B5/(1-(1+B5)^(- =B3*B5/(1-(1+B5)^(- =B3*B5/(1-(1+B5)^(- =B3*B5/(1-(1+B5)^(- 2 D Interest Interest #N/A #N/A #N/A #N/A #N/A B = E Principal Principal #N/A #N/A #N/A #N/A #N/A 0.00% =E13/C13 a F Ending Balance Ending Balance #N/A #N/A #N/A #N/A #N/A G H $