you secured a RM40,000 loan from Bank KMP (BKMP) in May 2019 at an interest rate of 6% per year compounded monthly to purchase some equipment needed for your small business. The loan was supposed to be paid back in 5 years. Since the Covid-19 pandemic hit the world, The government has allowed for a 6-month moratorium from May 2020. Your business was very much affected by the pandemic, and you have decided to take the moratorium in May 2020 without extending the loan period.

There were two options:

i. Take the moratorium without extending the loan period.

iiTake the moratorium with extending the loan period.

only ii please show all steps with formula