Question $3$ a$)$ Consider a $\backslash (\backslash$$ $2,000\backslash )$ loan that charges a $1\mathrm{.}25\backslash \%$ per$-$month interest rate. You intend to repay in a single payment as a lump sum, $20$ months after receiving the loan. Determine: $($i$)$ The effective annual interest rate. $[4]($ii$)$ The total amount of interest paid.