Problem $25-9($LG $25-4)$

Consider a GNMA mortgage pool with principal of $$16$ million. The maturity is $15$ years with a monthly mortgage payment of $13$ percent per year. Assume no prepayments.

a$.$ What is the monthly mortgage payment $(100$ percent amortizing$)$ on the pool of mortgages? $($Do not round intermediate calculations. Round your answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$

b$.$ If the GNMA insurance fee is $7$ basis points and the servicing fee is $43$ basis points, what is the yield on the GNMA pass$-$through?

$($Do not round intermediate calculations. Round your answer to $5$ decimal places. $($e$.$g$.,32\mathrm{.}16161))$

c$.$ What is the monthly payment on the GNMA in part $($b$)?($Do not round intermediate calculations. Round your answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16$