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Question
Overseas bank is pooling 50 similar and fully amortized mortgages into a pass-through security. The face value of each mortgage is $100,000 paying 180 monthly interest and principal payments at a fixed rate of 9 percent per annum.
What is the monthly payment on the mortgage pass-through?
A. $37,500.
B. $45,231.
C. $45,309.
D. $50,713.
E. $55,256.
Answer
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