One Hundred Identical Mortgages Are Pooled Together into a Pass-Through

Multiple Choice

One hundred identical mortgages are pooled together into a pass-through security.Each mortgage has a $150,000 principal, a fixed annual interest rate of 8 percent (paid monthly) , and is fully amortized over a term of 30 years. What is the present value of the mortgage pass-through if the entire pool is repaid after two months and there is no change in interest rates?

A) $14,989,935.
B) $15,089,868.
C) $15,000,000.
D) $15,110,065.
E) $14,889,935.