a$)$ Andrew is a loan officer of Bank AA$.$ A bank$$s customer has requested Andrew to present to him how his RM$200,000$ personal loan is going to be repaid by $36$ monthly installments based on an interest rate of $8\%$ p$.$a$.$

$($i$)$ Calculate the monthly repayment amount and complete the following loan amortization schedule.

Year

Beginning

Value

Repayment

amount

Interest

paid

Principal

paid

Ending

Value

$1$

$2$

$3$

$4$

till

$36$

$($ii$)$ By the $24$th installment, the customer intends to make a lump sum payment of RM$20,000$ in addition to the monthly repayment amount. Prepare another loan amortization table starting from $25$th installment.

$($iii$)$ Compute the interest saved when repays an additional of RM$20,000$ at the end of year $2.$