A House Is Appraised at $298 000 and You Have

question 70

Multiple Choice

A house is appraised at $298 000 and you have a down payment of $25 000.CMHC charges the following rates on the loan to value ratio: Up to and including 80 percent,1.00 percent;up to 85 percent,1.75 percent;up to 90 percent,2.00 percent;up to 95 percent 2.75 percent.What will be the approximate total amount of the mortgage if the CMHC fee is included in it?

• A)$278 460
• B)$281 195
• C)$278 996
• D)$280 508

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Definitions:

Neural Networks

Computational models inspired by the human brain's network of neurons, used in machine learning and artificial intelligence to recognize patterns and solve problems.

Sensory Information

Information that is collected by our senses (sight, smell, taste, touch, and hearing) which is then processed by the brain.

ACh Agonists

Chemicals that mimic or enhance the action of acetylcholine, a neurotransmitter involved in muscle activation and memory.

Peripheral Nervous System

The part of the nervous system outside the brain and spinal cord, responsible for connecting the central nervous system to limbs and organs.