Once you graduate college/university you will be expected to start paying off your OSAP loan immediately (ignore the six-month grace period for simplicity). For this next part you are going to look at the difference in interest between paying off the loan in 3 years versus parying it off over 6 . Both calculations will require the same formula. Circle the formula you will use. A=iR[(1+i)n1]A=P(1+i)nP=iR[1(1+i)n]P=(1+i)nAI=PrtA=P+I Explain why you chose to use that formula. Record the value of each known variable from the formula you selected in the first column of the table. You will need the following to complete this question. - Use the value in the Loans box from Part Three as the Present Value of your loan. (P=3000) NOTE: if you did not qualify for OSAP, you need to use the value provided in Part Three. - Use a monthly compounding period. - Use the interest rates below. You will need to combine them. Interest Rate The interest rate is the amount you have to pay to borrow money. The interest rate on your first payment date is used to determine the monthly payment for your Canada-Ontario Integrated Student Loan (COISL). If the interest rates change, your monthly payment remains the same. However, the amount applied to your loan balance ("principal") will change. For example, if interest rates go down, more of your monthly payment will be applied to the principal. The interest rates are: Ontario portion: prime rate of interest plus 1% Canada portion: prime rate of interest plus 2.5% F