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This question has been posted twice and those answers are wrong! I need the correct answers please!! Excel Online Structured Activity: Amortization schedule The data
This question has been posted twice and those answers are wrong! I need the correct answers please!! Excel Online 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 $39,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 10% compounded annually. Round all answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ $ $ $ $ 2 $ $ $ $ $ 3 $ $ $ $ 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: % % 10 th copy Format Painter BI Rab 5 A $. % 98 Insert Delete Format Conditional format Formattintas Table Styles Tabiri Font Ali Number Ce 38 H 1 Amortization schedule 2 3 Loan amount to be repaid (PV) 4 Interest rate (1) 5 Length of loan in yours) 6 7 a. Setting up amortization table 3 Calculation of loan payment 9 $39,000.00 10.00% 3 Formula WNIA Beginning Balance Payment Repayment of Principal Interest Remaining Balance 10 11 12 13 14 Year 1 2 3 15 b. Calculating % of Payment Representing Interest and Principal for Each Your Payment % Payment Representing Representing Check: Total 16 Year Interest Principal 100% 1 18 19 3 20 21 Formulas 17 2. Repayment of hul Sheet1
This question has been posted twice and those answers are wrong! I need the correct answers please!!
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