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 $$15,000$ loan to be repaid in equal installments at the end of each of the next the

interest rate is $12\%$ 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 years? Round all

answers to two decimal places.

$\%$ Interest

$\%$ Principal

Year $1$:

Year $2$:

$\%$

$\%$

Year $3$:

$\%$

$\%$

$\%$