Shiva Transferred His Mortgage of $145 981 from CIBC to BMO

question 107

Multiple Choice

Shiva transferred his mortgage of $145 981 from CIBC to BMO for the remaining amortization period at 3.59% compounded semi-annually. He has agreed to pay rounded up payment of $2000 every month. How long will it take Shiva to pay-off his mortgage?

• A) 6 years 11 months
• B) 6 years 1 months
• C) 8 years
• D) 6 years 6 months
• E) 10 years

---

Definitions:

Vibration

Rapid oscillations of an object around a central point, producing a quivering or trembling effect.

Medical Laboratory Scientists

Professionals who conduct laboratory tests and procedures to diagnose diseases and provide data for treatment by physicians.

Nuclear Medicine Technologists

Nuclear Medicine Technologists are healthcare professionals who specialize in preparing and administering radioactive drugs for imaging or therapeutic purposes, and they operate devices that detect and map the radioactive drug in a patient's body to provide diagnostic information.

Blood Banking

The process of collecting, testing, processing, storing, and distributing blood and blood components for transfusions.