Part B - Financial Model Name : Overarching learning goals: B.1. demonstrate an understanding of annuities, including mortgages, and solve related problems using technology; B.2. gather, interpret, and compare information about owning or renting accommodation, and solve problems involving the associated costs; B.3. design, justify, and adjust budgets for individuals and families described in case studies, and describe applications of the mathematics of personal finance. COM: uses conventions, vocabulary, and terminology of the discipline with a high degree of effectiveness A couple years ago, Harkiran got a student loan of $20 000 from OSAP which was interest free for the duration of her study. She has recently graduated and she will now need to repay the loan with equal monthly payments over the next 10 years at 9.4% per year compounded monthly. a. Determine Harkiran's monthly loan payment: Write all values that are given in the appropriate places. Place a question mark "?" to the unknown value. You may use a TVM solver or the formula learned in class. (4 marks) Your answer: Present value: Future value: Regular payment: Annual interest rate : Compounding interest rate : Number of payments: b. What is the total amount he repays? (2 marks) c. How much of the amount repaid is interest? (2 marks)