Exces Unline Structured Activity: Amortization schedule The data on a loan has been collected in the Microsoft Excel Online file below, Open the spreadsheet and perform the required analysis to answer the questions below. Open spreadsheet a. Complete an amortization schedule for a $36,000 loan to be repaid in equal installments at the end of each of the nexpthree years. The interest rate is 10% compounded annually. Round all answers to the nearest cent. b. What percentage of the payment represents interest and what percentage represents principal for each of the three yoars? Round all answers to two decimal places. 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 places. c. Why do these percentages change over time? 1. These percentages change over time because even though the total payment islconstant the amount of interest paid each year is declining as the remaining or outstanding balance decilines. 11. These percentages change over time because even though the total payment is constant the amount of interest paid eoch year is increasing as the remaining or outstanding balance decines. 11t. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining or outstanding balance increases; IV. These percentages change over time because even though the total payment is constant the arnount of interest paid each year is increasing as the remaining or outstanding balance increases. V. These percentages do not change over time; interest and princigal are each a constant percentage of the total paymant. Amortization schedule B. C Loan amount to be repaid (PV) Interest rate ( r ) Length of loan (in years) $36,000.00 10.00% 3 a. Setting up amortization table Calculation of loan payment \begin{tabular}{c} Formula \\ \hline \#N/A \end{tabular} \begin{tabular}{|c|c|ccc|} \hline 16 & Year & Payment \% Representing Interest & Payment \% Representing Principal & Check: Total = 100% \\ \hline 17 & 1 & & & \\ \hline 18 & 2 & & & \\ \hline 19 & 3 & & & \\ \hline 20 & & & \end{tabular} 21 Formulas