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AusTop Corporation is a finance company focussed on providing housing loans at competitive interest rates. The corporation undertakes securitisation of its loans periodically. The corporation
AusTop Corporation is a finance company focussed on providing housing loans at competitive interest rates. The corporation
undertakes securitisation of its loans periodically. The corporation has recently pooled identical mortgages into a pass
through security. Each mortgage has a fixed annual interest rate of paid monthly and a maturity of years. The
principal of each mortgage is $
What is the amount of interest payment included in the second monthly payment?
Round your answer to the nearest integer, ie without decimals and please do not show the $ sign in the
answer eg if the answer is $ show
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