You are told that a note has repayment terms of $3,200 per year for 5 years, with a stated interest rate of 7%. How much of the total payment is for principal, and how much is for interest? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answers to 2 decimal places, e.g. 5,275.25.) Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1.

Total payment for principal		$enter a dollar amount rounded to 2 decimal places
Total interest		$enter a dollar amount rounded to 2 decimal places