A loan of 19,450 is to be repaid by level monthly instalments payable in arrears for a 16-year period. Assuming that the nominal rate of interest applying over the entire term of the loan is 6.2% per annum convertible monthly, calculate, to 2 decimal places, the following: (i) The level monthly instalment of interest and capital: ; [2] (ii) The amount of capital outstanding at the start of year 8: ; [2] Hence, or otherwise, find: (iii) The amount of interest paid in the first instalment of year 8: ; [1] (iv) The amount of capital repaid in the first instalment of year 8: [1]