A loan of $80,000$ was taken out on I January $2016.$ The loan was to be repaid over $10$ years in level instalments payable monthly in arrears.

$($i$)$ Calculate the level monthly instalment using an effective rate of interest of $8\%$ per annum.

$($ii$)$ Calculate the amount of the loan outstanding on I November $2018$ immediately after payment of the instalment then due.

$[3]$