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One Hundred Identical Mortgages Are Pooled Together into a Pass-Through

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One hundred identical mortgages are pooled together into a pass-through security. Each mortgage has a $150,000 principal, a fixed annual interest rate of 8 percent (paid monthly) , and is fully amortized over a term of 30 years.
-What is the present value of the mortgage pass-through if, immediately after origination, interest rates increase to 8.25 percent per annum?


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