Question
A pool of mortgages contains 3.75%, 30-year loans with the total beginning balance of $100.75 million. In the first month, the total payments from the
A pool of mortgages contains 3.75%, 30-year loans with the total beginning balance of $100.75 million. In the first month, the total payments from the pool were $491.4 thousand. What are the total prepayments, to the nearest $0.01 thousand? E.g., if your answer is $25,345.39, record it as 25.35. Assume no defaults.
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Financial Accounting Tools For Business Decision-Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
2nd Canadian Edition
0470833378, 978-0470833377
