Question: Using the values provided in the amortization table,find the total principal and interest payments that the issuer received in the first year. Express your answer

Using the values provided in the amortization table,find the total principal and interest payments that the issuer received in the first year. Express your answer as a number rounded to two decimal points (e.g. is your answer is $4,500.57, write 4500.57).

Year 1 $8,500,000.00 2 $7,345,122.36 3 $6,265,226.05 $5,256,299.47 5 $4,314,712.17 6 $3,437,260.96

Year 1 $8,500,000.00 2 $7,345,122.36 3 $6,265,226.05 $5,256,299.47 5 $4,314,712.17 6 $3,437,260.96 7 $2,621,267.58 8 $1,864,792.06 9 $1,167,155.05 $530,545.63 10 4 Beginning Pool Balance LO Principal Due to Prepayment $425,000.00 $367,256.12 $313,261.30 $262,814.97 $215,735.61 $171,863.05 $131,063.38 $93,239.60 $58,357.75 $0.00 Scheduled Principal and Interest PMTS Interest Paid $1,154,877.64 $425,000.00 $1,079,896.31 $367,256.12 $1,008,926.58 $313,261.30 $941,587.30 $262,814.97 $877,451.21 $215,735.61 $815,993.38 $171,863.05 $756,475.52 $131,063.38 $697,637.01 $93,239.60 $636,609.42 $58,357.75 $562,378.36 $26,527.28 Total Principal and Scheduled Principal Interest PMTS to Paid Issuer $729,877.64? $712,640.19 $695,665.28 $678,772.33 $661,715.60 $644,130.33 $625,412.14 $604,397.40 $578,251.67 $535,851.08 $1,447,152.42 $1,322,187.89 $1,204,402.27 $1,093,186.82 $987,856.43 $887,538.90 $790,876.61 $694,967.18 $562,378.36

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