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Title: Munawar is a first time buyer and bought a brand new townhouse in Oshawa for $212 000. He has saved ... Post by: Hillier on Nov 27, 2017 Munawar is a first time buyer and bought a brand new townhouse in Oshawa for $212 000. He has saved enough to make a 5% down payment and will have to pay mortgage loan insurance at 2.75% of the mortgage balance. Munawar wants the insurance premium added to the maximum allowable loan balance. Determine his maximum initial mortgage balance.
A) $5538.50 B) $201 400 C) $206 938.50 D) $212 000 E) $212 477 Title: Re: Munawar is a first time buyer and bought a brand new townhouse in Oshawa for $212 000. He has ... Post by: rmaccara on Nov 27, 2017 C
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