Mertyl Is Interested in Buying a House Worth $335 000

question 48

Multiple Choice

Mertyl is interested in buying a house worth $335 000 and has a down payment of $40000 .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?

• A)$9145
• B)$8260
• C)$7080
• D)$11 800

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