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Peter and Mary Make a $25 000 Down Payment on a $400

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Peter and Mary make a $25 000 down payment on a $400 000 home.
CMHC charges the following rates on the loan to value ratio: Up to and including 80 percent,2.40 percent; up to 85 percent,2.80 percent; up to 90 percent,3.10 percent; up to 95 percent 4.00 percent.
What will be the CMHC insurance premium?
Illustrate the calculation on the loan insurance premium that Peter and Mary have to pay.


Definitions:

Epinephrine

A hormone and neurotransmitter also known as adrenaline; it increases heart rate, constricts blood vessels, and dilates air passages.

Norepinephrine

A neurotransmitter and hormone involved in the body's fight or flight response, affecting blood pressure, heart rate, and sugar metabolism.

Sympathetic

Pertaining to the part of the autonomic nervous system that typically prepares the body for intense physical activity and is often referred to as the fight-or-flight response.

Parasympathetic

Pertaining to the division of the autonomic nervous system that conserves energy as it slows the heart rate, increases intestinal and gland activity, and relaxes sphincter muscles.

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