You take a $25-$year, $$300,000$ mortgage that requires annual payments. The interest rate is $6\%$ per year.

a$.$ What is the annual payment on this mortgage?

b$.$ What is the loan balance after $15$ years $($ie immediately after you made the $15$th payment$)?$

c$.$ How much of your first payment is interest, and how much is repayment of principal?