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solve in excel please, e is incorrect 15. Your business has just taken out a 1-year installment loan for $72,500 at a nominal rate of

solve in excel please, e is incorrect
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15. Your business has just taken out a 1-year installment loan for $72,500 at a nominal rate of 11.0% but with equal end-of-month payments. What percentage of the 2 nd monthly payment will go toward the repayment of principal? a. 73.67% b. 77.55% c. 81.63% d. 85.93% (e.) 90.45%

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