TVO ILC is JWTHTM MTH1W Learning Activity 2.10 Assessment for Grading 11. The following table shows mortgage calculations on a spreadsheet. A person has set a maximum monthly payment that they can afford. The number of years over which they would have to repay the loan is displayed. B C D A 1 Loan Repayment 2 Monthly Repayment 980 3 Borrowed Principal 120,000.00 4 Loan Length 13 5 Period Rate 0.00322 Rate Period =RATE(12*B4,-B2, B3) a. Explain the components of the formula in cell D5, for the spreadsheet provided. b. What is the interest rate per period as a percent?