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If a mortgage pool consists of five 30-year 10 percent FRMs totaling $500,000, five 15-year 9 percent FRMs totaling $450,000, and ten 8 percent 15-year

If a mortgage pool consists of five 30-year 10 percent FRMs totaling $500,000, five 15-year 9 percent FRMs totaling $450,000, and ten 8 percent 15-year FRMs totaling $750,000, what is the weighted average maturity?

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20.4 years

None of the choices are correct.

19.4 years

18.4 years

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