Excel Online Structured Activity: Loan Amortization Your company is planning to borrow $2.5 million on a 5-year, 164, 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 or 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. mi Check My Work Reset Problem NM Interest Principal Ending Balance 13 Loan amount $2,500,000 4 Term in years 5 5 Annual coupon rate 16.00% 6 7 Calculation of Loan Payment Formula 8 Loan payment = #N/A 9 10 Loan Amortization Schedule 11 Year Beginning Balance Payment 12 1 2 14 3 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 Ropayment 27 of Principal 28 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/OI =E13/C13