PV floating pmts for Swap Valuation

Hi folks, first post.

CFAI Text - Derivatives. pg. 297 Q1 b) Answer Key: pg. 305.

Clear enough how we calculate PV factors and multiply by fixed LIBOR rates to come up with fixed payments. Little unclear why to calculate the floating payments, we simply take the first floating payment, add one, and discount it back to PV. What about the other future floating payments? Studying has been such a grind and derivatives are one of my weak points, I think I’m starting to overlook simple things!! Much thanks.

floating rate resets at each payment point.

you have a rate of x% -> you pay (1+x%) * Notional. This is what is owed.