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Bondi Bank pooled 1900 identical mortgages together into a pass-through security. Each mortgage has a principal of $191,000, a fixed annual interest rate of 10%
Bondi Bank pooled 1900 identical mortgages together into a pass-through security. Each
mortgage has a principal of $191,000, a fixed annual interest rate of 10% paid monthly, and a
maturity of 20 years.
What amount of the first monthly payment is principal?
(Round your answer to the nearest integer, i.e. without decimals)
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