Filippos needs to borrow $165,000 to purchase a home. He is able to obtain a fifteen year mortage with a fixed-rate of 4.8%. What is his monthly payment?

Please complete the first rows of the amortization table:

Amortization Table

n	Principal Balance	INTEREST	Excess Payment	Principal Remaining
1	165000	____	___	___

If Filippos started this mortgage at the beginning of December, how much interest would he pay during its first calendar year?

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