Your company is planning to borrow $0.75 million on a 5-year, 14%, annual payment, fully amortized term loan. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. What fraction of the payment made at the end of the second year will represent repayment of principal? Do not round intermediate calculations. Round your answer to two decimal places. __________%

the answer is not .5 92. as someone previously answered.

a A A A $ % Formatting as Table Undo Clipboard Font Alignment Number Tables F1 fx 1 Loan Amortization $750,000 Loan amount Term in years Annual coupon rate 14.00% 7 8 Calculation of Loan Payment Loan payment = $218,462.66 Formula #NA 10 Loan Amortization Schedule Year Beginning Balance Payment Interest Principal Ending Balance - WN Sheet1 e a Z | x] piwie 92 Paste lie 191 3 HA A - $ -% 9 Conditional Format Formatting - as Table 8 Undo Clipboard Font Alignment Number Tables F1 D G 4 5 Formulas Loan Amortization Schedule Year Beginning Balance #N/A #N/A #NA #N/A #N/A Payment #N/A #N/A Interest #N/A #N/A #N/A #N/A #N/A Principal #N/A #N/A #N/A #N/A #NA Ending Balance #NA #N/A #NA #N/A #N/A #N/A #N/A #N/A Percentage of 2nd Year Payment Representing 27 Repayment of Principal #DIV/0! =E13/C13 Sheet1 e-ZX] 0P3 we g