Eric takes out a loan of $810000 over 24 years at 8.47% p.a. interest compounded monthly.

1. Calculate the minimum monthly repayment. $$
2. If an extra $50 per month is added to the repayment, how much sooner can the loan be repaid? months
3. Find the total repayment Eric makes on the loan if:
   1. only the minimum monthly repayment were made $$
   2. only the higher repayment were made $$
4. How much interest could Eric save by making the higher repayment? $$

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