Based on the following pool of fixed-rate mortgage loans calculate the following statistics;

a) Weighted Average Coupon

b) Weighted Average Life

c) Weighted Average Maturity

Comment on the results.

Contract Rate Principal Outstanding Maturity 3.25% $586,548 26 years and 7 months 5.25% $392,115 29 years and 6 months 3.15% $679,468 23 years 4.50% $276,671 18 years and 9 months 2.85% $432,597 28 years and 2 months