Overseas Bank Is Pooling 50 Similar and Fully Amortized Mortgages

Multiple Choice

Overseas bank is pooling 50 similar and fully amortized mortgages into a pass-through security.The face value of each mortgage is $100,000 paying 180 monthly interest and principal payments at a fixed rate of 9 percent per annum. If the entire mortgage pool is repaid after the second month, what is the second month's interest and principal payments?

A) $37,441 interest and $13,275 principal.
B) $13,275 principal and $37,441 interest.
C) $13,312 interest and $4,986,786 principal.
D) $4,986,786 interest and $37401 interest.
E) $37,401 interest and $4,986,786 principal.