Given the following information on a MPT, how much money is each individual investor receiving in year 5?

(Note: You can perform this calculation with the spreadsheet or by completing it iteratively.)

• 10 year FRM, fully amortizing, annual payments.

• No prepayment or default

• 100 loans in the pool

• Average starting balance of $350,000/loan

• Mortgage rate 5%

• Servicing fee of 0.5% of starting outstanding pool balance

• There are 40 investors with equal shares in the pool