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, immediately after origination, interest rates increase to 8.25 percent per annum?

A) $15,000,000.
B) $14,650,591.
C) $14,000,000.
D) $15,115,493.
E) $15,267,549.