Problem 11. [4 pts] Elias Barley has found a fixed rate mortgage for $950,000 at seven percent interest amortized over 30 years. How much would his payment be if he wanted to amortize the mortgage over 15 years instead of 30 years? (Show your calculations under both amortization periods) Problem 12. [6 pts] Mr. A. Aniol is interested in buying a house worth $985,000 in Oshawa and has a down payment of $186,000. 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 CMHC insurance premium? (Show your calculations) Problem 13. [5 pts, 21/2each] A. Mr. O. Benga's household income is $4,963. Mortgage payments including taxes, principal, and interest are $1,890. In addition, there are condominium fees of $126 and heating costs of $190 monthly and a car lease of 450 . What is his gross debt service ratio? B. A house for sale in Pickering is listed at $790,000 and Mr. Charlie Freeman manages to win the competitive bid for his dream house with an offer of $885,000. However, the appraisal indicates the value of $695,000. What will be the conventional mortgage loan amount approved by the bank