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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 3200 identical mortgages into a pass-
through security. Each mortgage has a fixed annual interest rate of 10% paid monthly and a maturity of 20 years. The
principal of each mortgage is $888,000.
What is the amount of interest payment included in the second monthly payment?
(Round your answer to the nearest integer, i.e. without decimals and please do not show the $ sign in the
answer e.g. if the answer is $1532.63, show 1533).
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