Examlex

Solved

Overseas Bank Is Pooling 50 Similar and Fully Amortized Mortgages

question 55

Multiple Choice

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. If the entire mortgage pool is repaid after the second month, what is the second month's interest and principal payments?


Definitions:

Articles of Confederation

The first constitution of the United States, ratified in 1781, which established a loose confederation of states with a weak central government, later replaced by the U.S. Constitution in 1789 due to its inefficiencies.

Military Tactics

The art and science of organizing and employing armed forces and their components during combat or engagements to defeat an adversary.

Revolutionaries

Individuals who actively engage in, or advocate for, profound political change, often through the overthrow of an existing government or social order.

Ben Franklin

A leading Founding Father of the United States, known for his contributions as a statesman, author, printer, and scientist among other roles.

Related Questions