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Assume that you borrow a 30-year mortgage loan of $300,000. The mortgage rate is 8%. Prepayments follow the 150PSA. What is the single-month mortality rate

Assume that you borrow a 30-year mortgage loan of $300,000. The mortgage rate is 8%. Prepayments follow the 150PSA.

What is the single-month mortality rate (SMM) in the first month of the mortgage?

Group of answer choices

0.000275

0.005674

0.0002503

0.0001386

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