1) 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, 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 approximate total amount of the mortgage if the CMHC fee is included in it?

A.$283 920

B.$280 644

C.$280 152

D.$281 463