Question: This and the next two questions are based on the following conditions Assume that you borrow a 30-year mortgage loan of $300,000. The mortgage rate

This and the next two questions are based on the following conditions

Assume that you borrow a 30-year mortgage loan of $300,000. The mortgage rate is 8%. Prepayments follow the 150PSA.

What is the monthly payment of the mortgage?

Group of answer choices

$2,201.29

$32,863.94

None

$2,699.18

$16,302.94

B) Continuing from the last question

What is the single-month mortality rate (SMM) in the first month of the mortgage?

Group of answer choices

0.0002503

0.005674

0.0001386

0.000275

C) Continuing with the prior question

What is the scheduled mortgage payment in the first month?

Group of answer choices

201.29

None

233.05

345.78

28022

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