To buy a new house, you must borrow $165 comma 000. To do this, you take out a $165 comma 000, 30-year, 11 percent mortgage. Your mortgage payments, which are made at the end of each year (one payment each year), include both principal and 11 percent interest on the declining balance.How large will your annual payments be?

The amount of your annual payment will be $_____. (Round to the nearest cent.)