*PLEASE SHOW EXCEL CALCULATIONS

Coupon Rate: .095, Interest: .1, Par: 1,000,000 , Years: 10, Compund: 1, Fees: -.005, Individuals: 40, R: .1, Market Rate: .095

The above assumes 0% prepayment.

What if there was 10% prepayment, what would the price be with a market rate of 8.5%?

What about 50% prepayment?

Balance PI& Prepay Total Fees to Investors End Begin P&I Int Principal End 0 1,000,000 937,255 868,235 792,313 708,799 616,933 515,881 404,724 282,451 147,950 162,745 162,745 162,745 162,745 162,745 162,745 162.745 162,745 162,745 162,745 OOOOOOOOOO 162,745 162,745 162,745 162,745 162,745 162,745 162,745 162,745 162,745 162,745 (5,000) (4,686) (4,341) (3,962) (3,544) (3,085) (2,579) (2,024) (1,412) (740) 157,745 158,059 158,404 158,784 159,201 159,661 160, 166 160,722 161,333 162,006 937,255 868,235 792,313 708,799 616,933 515,881 404,724 282,451 147,950 0 0 1 2 3 4 5 6 7 8 9 10 1,000,000 937,255 868,235 792,313 708,799 616,933 515,881 404,724 282,451 147,950 162,745 162,745 162,745 162,745 162,745 162,745 162,745 162,745 162,745 162,745 100,000 93,725 86,823 79,231 70,880 61,693 51,588 40,472 28,245 14,795 62.745 69.020 75,922 83,514 91,866 101,052 111,157 122,273 134,500 147,950 937,255 868,235 792,313 708,799 616,933 515,881 404,724 282,451 147,950 0 Balance PI& Prepay Total Fees to Investors End Begin P&I Int Principal End 0 1,000,000 937,255 868,235 792,313 708,799 616,933 515,881 404,724 282,451 147,950 162,745 162,745 162,745 162,745 162,745 162,745 162.745 162,745 162,745 162,745 OOOOOOOOOO 162,745 162,745 162,745 162,745 162,745 162,745 162,745 162,745 162,745 162,745 (5,000) (4,686) (4,341) (3,962) (3,544) (3,085) (2,579) (2,024) (1,412) (740) 157,745 158,059 158,404 158,784 159,201 159,661 160, 166 160,722 161,333 162,006 937,255 868,235 792,313 708,799 616,933 515,881 404,724 282,451 147,950 0 0 1 2 3 4 5 6 7 8 9 10 1,000,000 937,255 868,235 792,313 708,799 616,933 515,881 404,724 282,451 147,950 162,745 162,745 162,745 162,745 162,745 162,745 162,745 162,745 162,745 162,745 100,000 93,725 86,823 79,231 70,880 61,693 51,588 40,472 28,245 14,795 62.745 69.020 75,922 83,514 91,866 101,052 111,157 122,273 134,500 147,950 937,255 868,235 792,313 708,799 616,933 515,881 404,724 282,451 147,950 0