Consider $9,000,000 of 25-year mortgages with a coupon of 6 percent paid quarterly. Consider a 25-year CMO using this mortgage pool as collateral. There are three tranches (where A offers the least protection against prepayment and C offers the most). A $2,250,000 tranche A makes quarterly payments of 5 percent; a $4,500,000 tranche B makes quarterly payments of 6 percent; and a $2,250,000 tranche C makes quarterly payments of 7 percent. If the trustee receives quarterly prepayments of $300,000 on the mortgage pool, which of the following is NOT true?
Tranche A receives a principal payment of $339,335 in Quarter 1.
Tranche A receives a total payment of $367,460 in Quarter 1.
Tranche A has a remaining balance of $1,567,088 at the end of Quarter 2.
Tranche A receives an interest payment of $23,883 in Quarter 2.
Tranche A receives an interest payment of $17,240 in Quarter 3.