Please assist with question (vi), (vii), (viii), (x) Thanks in advance

Question One: Loan Amortization [20 Marks) A banker is offering 12% per annum interest on a loan to fund the purchase of an asset with a price of R1 million. The loan requires you to put down a deposit of 20% and you have four years to settle the it. Your task is to assess whether it is cheaper to service this loan using annual payments or monthly payments by addressing the following: Draw up an amortization table for this loan using annual compounding, [5] i. Calculate the: ii. iv. v. vi. interest paid in the first 2 years. [1] percentage of the loan repaid after 3 years. [2] balance at the end of the first year. [1] settlement amount at the end of the first year. [1] monthly payment if interest is compounded monthly instead of annually and then find the interest paid in first 2 years. [2] percentage of the loan repaid after 3 years. [2] balance at the end of the first year. [1] settlement amount at the end of the first year. Which of the two methods of compounding will be less costly for the borrower? Substantiate your conclusions by doing a comparison of total payments and total interest paid for both. [4] vii. viii. ix. X