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Principal and coupon rate

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Tranche

Principal

Coupon Rate

A

$40,000,000

9.25%

B

30,000,000

10.00%

Z

30,000,000

11.00%

A mortgage company is issuing a CMO with three tranches, with the principal and coupon rate given in the table above. What will be the weighted average coupon on the CMO when issued? (State your answer as a percentage, e.g. 20.1%)

Reference no: EM131016925

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