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 at the end of the second month, what is the weighted average life of the mortgage pool?

A) 2.10 months.
B) 2 months.
C) 1.997 months.
D) 1.95 months.
E) 1.90 months.