The attached table represents annual payments, to show the format needed to find semi-annual payments.

A major urban center is planning to issue a $100 million, 20-year, semiannual-interest-paying municipal bond for the construction of a stadium. The interest rate is 5.875%, based on the economic and financial conditions of the city and city government. 1 The design and issuance costs are estimated to be $10 million and 1%, respectively. What is the total interest paid if the city decides to adopt a level debt service structure? | How much will the city still owe on this bond at the end of each year? Principal amount 111,100,000 Interest rate 5.875% Term in years 20 Structure Level debt service Principal outstanding Principal repaid Total debt service Year Interest 1 2 3 4 5 6 7 8 9 10 11 12 13 14 111,100,000 105,545,000 99,990,000 94,435,000 88,880,000 83,325,000 77,770,000 72,215,000 66,660,000 61,105,000 55,550,000 49,995,000 44,440,000 38,885,000 33,330,000 27,775,000 22,220,000 16,665,000 11,110,000 5,555,000 6,527,125 6,200,769 5,874,413 5,548,056 5,221,700 4,895,344 4,568,988 4,242,631 3,916,275 3,589,919 3,263,563 2,937,206 2,610,850 2,284,494 1,958,138 1,631,781 1,305,425 979,069 652,713 326,356 5,555,000 12,082,125 5,555,000 11,755,769 5,555,000 11,429,413 5,555,000 11,103,056 5,555,000 10,776,700 5,555,000 10,450,344 5,555,000 10,123,988 5,555,000 9,797,631 5,555,000 9,471,275 5,555,000 9,144,919 5,555,000 8,818,563 5,555,000 8,492,206 5,555,000 8,165,850 5,555,000 7,839,494 5,555,000 7,513,138 5,555,000 7,186,781 5,555,000 6,860,425 5,555,000 6,534,069 5,555,000 6,207,713 5,555,000 5,881,356 111,100,000 179,634,813 15 16 17 18 19 20 Total A major urban center is planning to issue a $100 million, 20-year, semiannual-interest-paying municipal bond for the construction of a stadium. The interest rate is 5.875%, based on the economic and financial conditions of the city and city government. 1 The design and issuance costs are estimated to be $10 million and 1%, respectively. What is the total interest paid if the city decides to adopt a level debt service structure? | How much will the city still owe on this bond at the end of each year? Principal amount 111,100,000 Interest rate 5.875% Term in years 20 Structure Level debt service Principal outstanding Principal repaid Total debt service Year Interest 1 2 3 4 5 6 7 8 9 10 11 12 13 14 111,100,000 105,545,000 99,990,000 94,435,000 88,880,000 83,325,000 77,770,000 72,215,000 66,660,000 61,105,000 55,550,000 49,995,000 44,440,000 38,885,000 33,330,000 27,775,000 22,220,000 16,665,000 11,110,000 5,555,000 6,527,125 6,200,769 5,874,413 5,548,056 5,221,700 4,895,344 4,568,988 4,242,631 3,916,275 3,589,919 3,263,563 2,937,206 2,610,850 2,284,494 1,958,138 1,631,781 1,305,425 979,069 652,713 326,356 5,555,000 12,082,125 5,555,000 11,755,769 5,555,000 11,429,413 5,555,000 11,103,056 5,555,000 10,776,700 5,555,000 10,450,344 5,555,000 10,123,988 5,555,000 9,797,631 5,555,000 9,471,275 5,555,000 9,144,919 5,555,000 8,818,563 5,555,000 8,492,206 5,555,000 8,165,850 5,555,000 7,839,494 5,555,000 7,513,138 5,555,000 7,186,781 5,555,000 6,860,425 5,555,000 6,534,069 5,555,000 6,207,713 5,555,000 5,881,356 111,100,000 179,634,813 15 16 17 18 19 20 Total