At the outset of buying their new home, the Robinson family secures an R$800000$ mortgage from the bank. The bank applies interest at an annual rate of $14\%,$ compounded monthly, with a loan term of $20$ years. How much of the outstanding balance on the loan will the family still owe at the conclusion of the first year?

$1.$

R$772687,39$

$2.$

R$783083,94$

$3.$

R$792129,68$

$4.$

R$799385,17$