Using the values provided in the amortization table,find the interest payment in the fifth year of the
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Using the values provided in the amortization table,find the interest payment in the fifth year of the loan. Express your answer as a number rounded to two decimal points (e.g. is your answer is $4,500.57, write 4500.57).
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Year Beginning Pool Balance 1 $8,000,000.00 2 $7,062,155.95 3 $6,155,136.02 4 $5,278,297.57 5 $4,431,097.27 6 $3,613,127.79 7 $2,824,184.82 8 $2,064,402.72 9 $1,334,573.68 $637,111.01 10 LO Principal Due to Prepayment $400,000.00 $353,107.80 $307,756.80 $263,914.88 $221,554.86 $180,656.39 $141,209.24 $103,220.14 $66,728.68 $0.00 Scheduled Principal and Interest PMTS Interest Paid $937,844.05 $400,000.00 $907,019.93 $353,107.80 $876,838.45 $307,756.80 $847,200.30 $263,914.88 $817,969.48? $788,942.97 $180,656.39 $759,782.10 $141,209.24 $729,829.05 $103,220.14 $697,462.67 $66,728.68 $656,224.34 $31,855.55 Total Principal and Scheduled Principal Interest PMTS to Paid Issuer $537,844.05 $553,912.13 $569,081.65 $583,285.42 $596,414.62 $608,286.58 $618,572.86 $626,608.91 $630,733.98 $624,368.79 $1,337,844.05 $1,260,127.72 $1,184,595.25 $1,111,115.18 $1,039,524.34 $969,599.36 $900,991.34 $833,049.18 $764,191.35 $656,224.34 Year Beginning Pool Balance 1 $8,000,000.00 2 $7,062,155.95 3 $6,155,136.02 4 $5,278,297.57 5 $4,431,097.27 6 $3,613,127.79 7 $2,824,184.82 8 $2,064,402.72 9 $1,334,573.68 $637,111.01 10 LO Principal Due to Prepayment $400,000.00 $353,107.80 $307,756.80 $263,914.88 $221,554.86 $180,656.39 $141,209.24 $103,220.14 $66,728.68 $0.00 Scheduled Principal and Interest PMTS Interest Paid $937,844.05 $400,000.00 $907,019.93 $353,107.80 $876,838.45 $307,756.80 $847,200.30 $263,914.88 $817,969.48? $788,942.97 $180,656.39 $759,782.10 $141,209.24 $729,829.05 $103,220.14 $697,462.67 $66,728.68 $656,224.34 $31,855.55 Total Principal and Scheduled Principal Interest PMTS to Paid Issuer $537,844.05 $553,912.13 $569,081.65 $583,285.42 $596,414.62 $608,286.58 $618,572.86 $626,608.91 $630,733.98 $624,368.79 $1,337,844.05 $1,260,127.72 $1,184,595.25 $1,111,115.18 $1,039,524.34 $969,599.36 $900,991.34 $833,049.18 $764,191.35 $656,224.34
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