Mathematics 11 Financial Literacy 8: Send-In Assignmer b) Option 2 5% down payment Monthly payments of $275 for 2 years. How much would the customer pay if they chose this option? 10b. (2 marks) 11. Calculate the daily and annual rate on interest charged on a payday loan of $400 if the interest charged was $35 when it was paid back 6 days later. 1 1. (2 marks) 12. Use the following personal loan payment calculator to determine the monthly payments and the total cost of borrowing $18000 at rate of 3% for 4 years. PERSONAL LOAN PAYMENT CALCULATOR Monthly payment per $1000 borrowed Interest Rate Term in Years 2 3 4 5 3.00 84.69 42.98 29.08 22.13 17.97