9. Rani recently took out a $50,000 secured line of credit. The rate is 2.75% compounded semi- annually above the Bank of Canada rate which is currently 1%. (use your financial application and fill in the appropriate inputs) a. If Rani could afford to make payments of $700 per month, how long would it take her to pay off the outstanding balance on her line of credit? N = 1% = PV = PMT = FV = P/Y = C/Y = a. 1 mark b. How much total interest would she pay? b. 2 marks c. How many fewer payments and less interest would she have to pay if she was able to make monthly payments of $1200? N = 1% = PV = PMT = FV = P/Y = C/Y =