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)