What is Celine's weekly mortgage payment?

Prepare for the Saskatchewan Mortgage Associate Exam with comprehensive questions and flashcards. Study effectively using multiple choice questions and hints to enhance understanding. Be exam-ready!

To determine Celine's weekly mortgage payment accurately, you would typically start by considering the total loan amount, interest rate, and loan term. If these details align under the payment structure inherent in the mortgage terms, the resulting figure represents what Celine is responsible for paying each week.

If the calculation leading to the result indicates a payment of $1,450.00, it suggests that this amount reflects the principal and interest due on the mortgage. Typically, mortgage payments can be calculated using a standard formula or an amortization schedule, which would take into account the various factors mentioned. An accurate assessment will yield the periodic payment amount, and in this scenario, $1,450.00 stands as the correct weekly payment likely resulting from such calculations.

In contrast, other figures like $1,300.00, $1,400.00, and $1,500.00 likely do not conform with the parameters established by the mortgage agreement, implying they either undervalue or overestimate the necessary payments given the specified loan details. Thus, it is critical that the correct calculations reflect the financial obligations accurately.

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