You apply for a mortgage loan with the amount of $102,895 today to buy a condo. You plan to make annual payments over a 15-year period. The bank has offered you a 4.15% interest rate, compounded annually.

What is your interest payment amount in the SECOND year?

Hint: You will need to construct an Amortization Table to answer the question.

Please round your answer to the second decimal without a dollar sign. E.g. 1234.56