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Posted on Aug 30, 2024

Consider a mortgage pool with principal of $10 million. The maturity is 20 years with a monthly mortgage payment of 6 per cent per annum.

Consider a mortgage pool with principal of $10 million. The maturity is 20 years with a monthly mortgage payment of 6 per cent per annum. (Assume no prepayments.)

What is the monthly mortgage payment (100 per cent amortising) on the pool of mortgages? (1.5 marks)

Show your answer as follows:

PV = .......

r = ..........

n = .........

m = .......

R = ........

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