5. A PAC 100/300 bond based on a pool of fully modified 30-year fixed-rate mortgages switches payment
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5. A PAC 100/300 bond based on a pool of fully modified 30-year fixed-rate mortgages switches payment schedules after 103 months. Would switching occur earlier or later for a PAC 50/300 bond? For a PAC 100/500 bond?
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Jehal Shah
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Related Book For 
Fundamentals Of Investments Valuation And Management
ISBN: 9781260013979
9th Edition
Authors: Bradford Jordan, Thomas Miller, Steve Dolvin
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