Question 8 (1 point) Canadian financial institutions are usually willing to lend more than 75 % of the appraised value of the house without insurance, thus the minimum down payment can be less than 25 % of the appraised value of the house. 1) True 2) False Question 9 (1 point) The direct market comparison (DMC) approach is limited in the sense that there must be available data pertaining to the sale of comparable homes in the recent past. 1) True 2) False Question 10 (1 point) The following are elements of a mortgage: Principal $180 000 Monthly compounding rate = 0.875 % = Amortization period = 20 years The outstanding principal after three (3) years of monthly payments will be. 1) $154 965.80 2) $32 841.12 3) $160 558.38 4) $170 650.06