Question
Consider the following pool of mortgages: 100 fully amortizing mortgages Original balance $259,689 Fixed rate interest at 5% Issued for 30 years with monthly payments
Consider the following pool of mortgages:
- 100 fully amortizing mortgages
- Original balance $259,689
- Fixed rate interest at 5%
- Issued for 30 years with monthly payments
Assuming there are no prepayments, what do you predict the pool factor will be after 147 payments? Round your answer to two decimal points (e.g. if your answer is 1/3, enter 0.33).
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Contemporary Economics An Applications Approach
Authors: Robert Carbaugh
8th Edition
1138652199, 978-1138652194
